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Last Update: 28-Oct-11 09:48 ET
Employee Compensation Growth Slows As Benefit Spending Weakens
Employment costs increased 0.3% in Q3 2011 after increasing 0.7% in the second quarter. The Briefing.com consensus expected employment costs to increase 0.6%.
Growth in benefits spending weakened substantially in the third quarter, increasing only 0.1% after surging 1.3% in the second quarter. Wages and salaries growth slowed slightly, increasing 0.3% in Q3 2011 after increasing 0.4% in the second quarter.
Private industry compensation increased 0.4%. Slowdowns occurred in both wages and salaries (to 0.4% from 0.5%) and benefits (to 0.1% from 1.6%).
Compensation growth was flat in the public sector. Wages and salaries contracted, falling 0.2% in the third quarter after increasing 0.4% in the second quarter. Benefit spending slowed from 0.5% in the second quarter to 0.3% in the third quarter.
Growth in benefits spending weakened substantially in the third quarter, increasing only 0.1% after surging 1.3% in the second quarter. Wages and salaries growth slowed slightly, increasing 0.3% in Q3 2011 after increasing 0.4% in the second quarter.
Private industry compensation increased 0.4%. Slowdowns occurred in both wages and salaries (to 0.4% from 0.5%) and benefits (to 0.1% from 1.6%).
Compensation growth was flat in the public sector. Wages and salaries contracted, falling 0.2% in the third quarter after increasing 0.4% in the second quarter. Benefit spending slowed from 0.5% in the second quarter to 0.3% in the third quarter.
