BUSINESS NEWS: US wages, benefits rise 0.6 percent in third quarter of 2016

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WASHINGTON (AP) – Wages and benefits paid to U.S. civilian workers grew at a steady pace in the third quarter.

The Labor Department says total compensation rose 0.6 percent from July through September, same as it did from April through June. Wages and salaries increased 0.5 percent, benefits 0.7 percent.

In the 12 months that ended Sept. 30, compensation increased 2.3 percent, up from an annual gain of 2 percent a year earlier.

Wages and salaries, which account for 70 percent of compensation, were up 2.4 percent in the third quarter from a year earlier, and benefits rose 2.3 percent.

But state and local workers got their biggest gain from an increase in benefits, up 3.7 percent over the past year; their wages and salaries rose just 2 percent, the department said Friday.

 

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