US employment costs trail inflation for second straight quarter, falling 0.4% in real terms
Key points
- The employment cost index rose 3.4% nominally in the 12 months ended September.
- After adjusting for inflation, it fell 0.4%, the second straight quarter of trailing inflation.
- It rose 0.8% on a quarterly basis.
The Bureau of Labor Statistics data released Friday show the employment cost index, which tracks changes in wages and benefits, fell 0.4% in the 12 months ended September after adjusting for inflation. It rose 3.4% before adjustment and 0.8% on a quarterly basis. This is the second straight quarter in which labor cost growth has trailed inflation.
Original report: Bloomberg Law News ↗Edited with AI assistance. Facts are based on official sources and original reports.