Employment costs in the US rose above expectations

The US Department of Labor announced the Employment Cost Index for the January-March 2024 period.

According to this, the Employment Cost Index, which measures wage increases, rose by 1.2% in the first quarter of the year compared to the previous quarter.

The market expectation regarding the index, which showed a 0.9% increase in the last quarter of the previous year, was for a 1% increase in this period.

On an annual basis, employment costs increased by 4.2% in the first quarter.

Wages and benefits costs increased by 1.1% in the first quarter.

The employment cost for private sector employees increased by 1.1% during the same period, while the cost for public sector employees increased by 1.3%.

source: prepared by Melisa Beğiç

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