Investing.com - U.S. employment costs rose less-than-expected in the third quarter of 2012, 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 0.4% in the third quarter, below expectations for a 0.5% increase.
The employment cost index rose by an unrevised 0.5% in the preceding quarter.
For the 12-month period ending September 2012, compensation rose 2.0%.
The report showed that compensation rose 2.0% for private industry workers and 1.8% for state and local government workers.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.33% to trade 1.3000.
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 0.1%.
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 third quarter, below expectations for a 0.5% increase.
The employment cost index rose by an unrevised 0.5% in the preceding quarter.
For the 12-month period ending September 2012, compensation rose 2.0%.
The report showed that compensation rose 2.0% for private industry workers and 1.8% for state and local government workers.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.33% to trade 1.3000.
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 0.1%.