- The number, released quarterly, shows a 1.1% increase in the first quarter of the year, in line with market expectations, reflecting both a both higher wage gains and benefit costs
- The ECI, the broadest measure of labor costs, was higher than the 0.9% increase reported in the closing quarter of 2000, but no great cause for concern.
Broken down, the quarter’s numbers show that:
- Wages and salaries rose 1%, compared to a 0.8% gain in the previous quarter
- While benefit cost rose 1.3% compared to the 1% gain in the fourth quarter of 2000.