US: Recession Drove Private Sector Employment Costs Lowerers

The ongoing economic contraction continued to place downward pressure on wages & salaries and benefits growth in the private sector in the second quarter. Government compensation costs, however, accelerated. Wages & Salary Growth Slows The Employment Cost Index increased 0.4 percent in the second quarter. The upside surprise came from solid gains with state & local government workers. The overall trend is obvious as total compensation growth continues to decelerate. With so much