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U.S. Employment Cost Index Rises Less Than Expected In Q3

Employee compensation costs in the U.S. rose by slightly less than expected in the third quarter, according to a report released by the Labor Department on Tuesday.

The Labor Department said its employment cost index rose by 0.4 percent in the third quarter following a 0.5 percent increase in the second quarter. Economists had expected the index to rise by another 0.5 percent.

Wages and salaries increased by 0.3 percent in the third quarter after rising by 0.4 percent in the second quarter, while benefits rose by 0.7 percent compared to a 0.4 percent increase in the previous quarter.

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