US Q2 employment cost up 0.9%

US Department of Labor announced that the employment cost index inched up 0.9% in June and was 0.1% lower than the market expectation, the smallest growth since the Q4 of last year. The figure also registered a loss of 0.2% over the revised index after adjustment of seasonal factors. In the year ended June 30, the US salary and welfare rose 3.9% vs 4.4% in the same period last year. The decrease in the employment cost growth is due to the fact that the growth of welfare cost was milder than the Q1. The salary cost added 1%, the same with the Q1.

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