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US Wages And Benefits Grow At Sluggish Pace Amid Pandemic

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(AP) – Wages and benefits for U.S. workers grew slowly this summer as employers sought to hold the line on pay gains in the midst of the pandemic.

U.S. workers’ total compensation rose 0.5% in the July-September quarter, the second straight quarter of slower growth in wages, the Labor Department said Friday. That’s down from 0.8% in the first three months of the year. For the year ending in September, wages and benefits increased 2.4%, the slowest pace in three years.

The data comes from the Labor Department’s Employment Cost Index, which measures pay changes for workers that keep their jobs. The data isn’t affected by the mass layoffs in the spring.

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