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Q1 US Employment Cost Index Rises Faster Than Expected, Wages and Benefits Growth Both Accelerate

BY MT Newswires | ECONOMIC | 08:45 AM EDT

08:45 AM EDT, 04/30/2026 (MT Newswires) -- The quarterly US employment cost index rose by 0.9% in Q1, faster than the 0.7% gain in the previous quarter, the US Bureau of Labor Statistics reported on Thursday.

This was above the consensus estimate of a 0.8% gain in a survey compiled by Bloomberg as of 7:35 am ET.

Benefits costs rose by 1.2% in the quarter after a 0.8% gain in previous quarter, while wage growth accelerated to 0.8% from 0.7% in Q4.

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