Reuters reports that U.S. labor costs increased in the second quarter as employers boosted benefits for workers. This led to the largest annual increase since 2008.
The Employment Cost Index is the broadest measure of labor costs. the Labor Department said on Tuesday, it rose 0.6 percent after an unrevised 0.8 percent advance in the first quarter.
Labor costs increased 2.8 percent year-on-year, following a 2.7 percent advance in the first quarter.