US: Labor costs slow, but still rising at a scorching rate – Wells Fargo

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US: Labor costs slow, but still rising at a scorching rate – Wells Fargo By MSalordFX UnitedStates Employment Banks

Data released on Friday showed the Employment Cost Index rose 1% during the fourth quarter, and 4% during the year. Analysts at Wells Fargo point out the quarterly increase was more restrained than Q3's 1.3% gain, and they consider that may tamp down fears of a wage-price spiral amid signs businesses are not upping pay at such a frenzied pace.“The ECI includes benefits in addition to wages and salary costs, and also controls for compositional changes in the workforce.

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