Employment costs dip to 1%
- Prior quarter 1.2%
- Employment costs 1.0% versus 1.1% expected
- Benefits 0.9% vs 1.2% last quarter
- Wages +1.0% versus 1.2% last month
Looking at the chart, the employment costs remain in the upper end of the recent history going back to 2019, but that is near the low of the upper extreme.