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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium
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To: Kimberly Lee who wrote ()4/27/2000 8:37:00 AM
From: Bryan  Read Replies (1) of 108040
 
Washington--April 27--The cost of employing a U.S. worker surged a seasonally adjusted 1.4% in the first quarter of 2000, led by a spike in benefits costs, the Labor Department said today. The rise in the employment cost index was far above economists' expectations of a 0.9% rise, and was the biggest increase since the third quarter of 1989. The employment cost index was up 4.3% from a year ago, the largest increase in 9 years, and beating the 3.9% advance analysts had expected. The increase in the ECI, which measures the cost to employers of employee wages, salaries and benefits, was faster than the 1.0% surge in the previous quarter. The latest 12-month change in the ECI marks an acceleration from the 3.4% rise in the October-December period.
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