Benefit costs rose 2.6 percent from a year earlier, the most since the first quarter of 2015. (Photo: Shutterstock)
U.S. employment costs increased more than forecast in the first quarter as worker pay and benefits accelerated, according to Labor Department data released Friday.
|Key takeaways
The ECI data showed year-over-year acceleration in compensation in both services and goods-producing industries, underscoring widespread demand for labor. Employers are making more generous offers as they compete for workers in a tightening job market.
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