Investing.com - U.S. employment costs rose more-than-expected in the second quarter of 2013, official data showed on Wednesday.
In a report, the U.S. Bureau of Labor Statistics said employment costs, or the change in the price businesses and the government pay for civilian labor, rose by a seasonally adjusted 0.5% in the three months to June, above expectations for a 0.4% increase.
The employment cost index rose by an upwardly 0.5% in the preceding quarter.
Following the release of the data, the U.S. dollar spiked higher against the euro, with EUR/USD falling 0.34% to trade at 1.3217.
Meanwhile, U.S. stock index futures were lower. The Dow Jones Industrial Average futures indicated a loss of 0.2% at the open, S&P 500 futures eased down 0.2%, while Nasdaq 100 futures indicated a loss of 0.1% at the open.
In a report, the U.S. Bureau of Labor Statistics said employment costs, or the change in the price businesses and the government pay for civilian labor, rose by a seasonally adjusted 0.5% in the three months to June, above expectations for a 0.4% increase.
The employment cost index rose by an upwardly 0.5% in the preceding quarter.
Following the release of the data, the U.S. dollar spiked higher against the euro, with EUR/USD falling 0.34% to trade at 1.3217.
Meanwhile, U.S. stock index futures were lower. The Dow Jones Industrial Average futures indicated a loss of 0.2% at the open, S&P 500 futures eased down 0.2%, while Nasdaq 100 futures indicated a loss of 0.1% at the open.