Employment Cost Index Rises 3.5% Year-Over-Year in Q3, Slowest Growth Since Mid-2021

Quarterly wage and benefit increases moderate to 0.8 percent as labor market cooling reduces pressure on employers to raise compensation The cooling trend in the labor market continued to show through in third-quarter compensation figures, adding to signals that the post-pandemic hiring surge has firmly slowed. According to a report from Wells Fargo Economics, that […]