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U.S. labor costs rose modestly

Jan. 31, 2014 at 10:40 AM

WASHINGTON, Jan. 31 (UPI) -- Compensation costs for workers in the U.S. private sector rose 0.5 percent in the fourth quarter of 2013, the Labor Department said.

Wages and salaries -- about 70 percent of the total -- were up 0.6 percent from the third quarter, the department said Friday.

The overall gain, which includes the highest increase in wages and salaries in four years, was in line with expectations. Economists had forecast a gain of 0.4 percent in compensation costs from quarter to quarter.

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