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US paychecks grew faster than expected in the third quarter
Wages and benefits paid to US workers grew at a faster pace than expected last quarter, pointing to some underlying momentum in job market.The Employment Cost Index, a broad measure of total compensation paid to American workers, rose 1.1% in the third quarter, the Labor Department reported Tuesday. That’s a faster pace than the 1% gain registered in the second quarter.
Wages and benefits paid to US workers grew at a faster pace than expected last quarter, pointing to some underlying momentum in job market.The Employment Cost Index, a broad measure of total compensation paid to American workers, rose 1.1% in the third quarter, the Labor Department reported Tuesday. That’s a faster pace than the 1% gain registered in the second quarter. Read More Breaking News, Latest News and Videos | CNN