Business
(2009-07-31)
File image of a man looking at a list of employers at the 2009 CUNY Big Apple Job Fair at the Jacob K. Javits Convention Center in New York
Employment compensation for U.S. workers has grown over the past 12 months by the lowest amount on record, reflecting the severe recession that has gripped the country.
The Labor Department said Friday that employment costs rose by 1.8 percent for the 12 months ending in June, the smallest annual gain on records that go back to 1982.
The department said that for the April-June quarter, its Employment Cost Index rose by just 0.4 percent, just slightly above the 0.3 percent rise in the first quarter, which had been the smallest quarterly gain on record.
© Copyright 2010, Associated Press
