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U.S. labor costs rose modestly

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.

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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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