Wages and benefits rose 0.3 percent in the third quarter.
- Blog Post by: Dee DePass
- October 28, 2011 - 2:44 PM
A new government report makes one thing very clear. Nobody's getting rich off raises.
Workers' total compensation rose just 0.3 percent during the third quarter, the U.S. Bureau of Labor Statistics reported Friday.
Wages and salaries make up 70 percent of workers' total compensation costs, while benefits make up the remaining 30 percent. Wages and salaries inched up 0.3 percent, but while benefits inched up just 0.1 percent. .
During the past 12 months, total compensation costs rose 2.0 percent, compared to 1.9 percent a year earlier.
Meanwhile prices on consumer goods leapt 3.9 percent in September.
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