MW:Employment cost index up 0.5% in second quarter
By Greg Robb
WASHINGTON (MarketWatch) - The employment costs index, which measures the price of U.S. labor, rose 0.5% in the second quarter, the Labor Department reported Wednesday. Economists had expected a 0.4% gain. Over the past 12 months, employment costs have climbed 1.9%. Wages - some 70% of employment costs - rose 0.4% in the second quarter after a 0.5% gain in the prior three months. Benefits also rose 0.4% in the second quarter, down from a 0.6% gain in the first quarter.
