The Employment Cost Index, a measure of the changes in what employers pay in wages, salaries and employee benefits, increased by 0.9% over the final three months of last year.
However, the data also show that on a year on year basis, in 2001, employment costs increased at 4.1%, the same rate as recorded in 2000.
Over the fourth quarter of 2001:
- benefit costs rose by 1.2%, down from the 1.6% increase in the previous quarter
- wages and salaries grew by 0.8%, the same as in the third quarter.
« 2002 Bonuses to be Skimpier