Americans have seen the largest increase in wages and benefits over the past 10 years.
According to a new report by the Ministry of Labor on Tuesday, workers in the US saw the largest increase in wages and benefits since September 2008.
Фото: Depositphotos
According to Fox Business, the salary index, an indicator of total compensation to employees, increased by 0,6% in the second quarter. Labor costs and benefits increased by 2,8% over the 12-month period ending in June, which is the highest annual growth rate in nearly a decade.
Over the past 12 months, only wages rose by 2,8%, which also affected the level of almost 10-year highs.
Wage growth exceeded wages in the second quarter. Wages rose 0,5%. Benefits that cover healthcare, retirement plans, and other positions have increased by 0,9%. This is the highest in four years.
In a separate report, the Commerce Department said that the consumer price index rose in June by 2,2% over the same period last year, another sign that inflation is rising. The Federal Reserve plans to double the rates in 2018 a year to counter inflation.
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