Investing.com - U.S. employment costs rose broadly in line with expectations in the final three months of 2011, official data showed on Tuesday.
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 0.4% in the fourth quarter, in line with expectations.
The employment cost index rose by an unrevised 0.3% in the third quarter.
For the 12-month period ending December 2011, compensation rose 2%.
The report showed that compensation rose 2.2% for private industry workers and 1.3% for state and local government workers.
Following the release of the data, the U.S. dollar pared losses against the euro, with EUR/USD adding 0.19% to trade 1.3168.
Meanwhile, U.S. stock index futures held on to gains after the release of the data. The Dow Jones Industrial Average futures indicated a rise of 0.4%, S&P 500 futures signaled a 0.45% increase, while the Nasdaq 100 futures rose 0.4%.
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 0.4% in the fourth quarter, in line with expectations.
The employment cost index rose by an unrevised 0.3% in the third quarter.
For the 12-month period ending December 2011, compensation rose 2%.
The report showed that compensation rose 2.2% for private industry workers and 1.3% for state and local government workers.
Following the release of the data, the U.S. dollar pared losses against the euro, with EUR/USD adding 0.19% to trade 1.3168.
Meanwhile, U.S. stock index futures held on to gains after the release of the data. The Dow Jones Industrial Average futures indicated a rise of 0.4%, S&P 500 futures signaled a 0.45% increase, while the Nasdaq 100 futures rose 0.4%.