U.S. employment costs accelerate in sign of faster inflation

U.S. PRIVATE-SECTOR wages and salaries increased 2.9 percent year over year in the first quarter. / BLOOMBERG
U.S. PRIVATE-SECTOR wages and salaries increased 2.9 percent year over year in the first quarter. / BLOOMBERG
NEW YORK - United States employment costs increased more than forecast in the first quarter as worker pay and benefits accelerated, according to Labor Department data released Friday. Highlights of employment cost index (1Q) Employment cost index rose 0.8 percent quarter to quarter (est. 0.7 percent); after 0.6 percent gain Wages and salaries advanced 0.9 percent…

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