Summary Box: Employment costs post slight gain

AP News
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Posted: Oct 29, 2010 11:59 AM
Summary Box: Employment costs post slight gain

EMPLOYMENT COSTS: Employment costs rose 0.4 percent in the third quarter and are up 1.9 percent in the past 12 months as heavy job losses during the recession are keeping a lid on wages.

GOVERNMENT WORKERS: Compensation for state and local government workers was flat in the third quarter, the weakest showing on records that go back 28 years.

OUTLOOK: Economists believe that employment costs will remain depressed for some time to come, reflecting unemployment that is expected to remain stuck at high levels because the economy is growing so slowly.