Private Sector Pay Growth Increased To 2.0 Percent in Second Quarter, BLS Says

Total compensation for private sector workers grew 2.0 percent over the 12-month period that ended in June, a slight acceleration from the 1.9 percent boost that occurred over the same period a year earlier, the Labor Department’s Bureau of Labor Statistics reported July 31.

Wages and salaries rose 1.9 percent over the 12 months ended in the second quarter, identical to the 1.9 percent increase a year earlier. Meanwhile, benefits’ growth advanced to 2.4 percent from 1.9 percent, according to BLS’s employment cost index (ECI).

“Acceleration in wage gains appears credible: Small firms have been reporting broader gains in ...