Share
WASHINGTON — The annual wages and benefits for U.S. workers rose in the second quarter at a slightly slower pace than the first, suggesting that the lowest unemployment levels in a half century have not triggered rapid gains in worker compensation.
The unemployment rate fell to a half century low of 3.6% in April and May and ticked up slightly to a still historically low 3.7% in June.
Wages and Salaries Rose 0.7%
The government will report the July unemployment rate on Friday and economists at JPMorgan are forecasting it will tick back down to 3.6%, a further sign that the current economic expansion, now the longest in U.S. history, is continuing to power along.
The overall economy, as measured by the gross domestic product, slowed to an annual gain of 2.1% in the April-June quarter. While that was down from the 3.1% increase in the first quarter, economists saw the composition of GDP in the spring as healthier and they are forecasting growth will continue at rates around 2% for the rest of the year.
The rise in compensation for the three months ending in June was 0.6%, down from the three-month gain for the first quarter of 0.7%.
Wages and salaries, the biggest part of employee compensation, rose 0.7% while benefits, which cover items such as health insurance and pensions, rose 0.5%.
RELATED TOPICS:
Conforto Comes Through, Dodgers Rally in 8th for Victory Abetted by Mets Mishap
19 hours ago
Giants Beat the Slumping Braves in 10 Innings on a Wild Pitch
19 hours ago
Trans Troops, Facing a Deadline, Opt to Stay and Fight the Ban
21 hours ago
Trump Has Options to Punish Musk Even if His Federal Contracts Continue
13 hours ago
Ukrainian Attack Damaged 10% of Russia’s Strategic Bombers, Germany Says
13 hours ago
Why Reforming California’s Bedrock Environmental Law Is Good for the Environment
17 hours ago
Sinner Bids for His First French Open Title Against Defending Champion Alcaraz
19 hours ago
Coco Gauff Defeats Top-Ranked Aryna Sabalenka in 3 Sets to Win Her First French Open Title
19 hours ago
Texas Beats Texas Tech in 3rd Game of WCWS to Win Its 1st National Championship
19 hours ago
Conforto Comes Through, Dodgers Rally in 8th for Victory Abetted by Mets Mishap
19 hours ago
Giants Beat the Slumping Braves in 10 Innings on a Wild Pitch
19 hours ago
Trans Troops, Facing a Deadline, Opt to Stay and Fight the Ban
21 hours ago
Trump Has Options to Punish Musk Even if His Federal Contracts Continue
13 hours ago
Ukrainian Attack Damaged 10% of Russia’s Strategic Bombers, Germany Says
13 hours ago
Why Reforming California’s Bedrock Environmental Law Is Good for the Environment
17 hours ago
Sinner Bids for His First French Open Title Against Defending Champion Alcaraz
19 hours ago
Coco Gauff Defeats Top-Ranked Aryna Sabalenka in 3 Sets to Win Her First French Open Title
19 hours ago
Texas Beats Texas Tech in 3rd Game of WCWS to Win Its 1st National Championship
19 hours ago
Conforto Comes Through, Dodgers Rally in 8th for Victory Abetted by Mets Mishap
19 hours ago
Giants Beat the Slumping Braves in 10 Innings on a Wild Pitch
19 hours ago
Trans Troops, Facing a Deadline, Opt to Stay and Fight the Ban
21 hours ago
Sights & Sounds: The 2025 Fresno Rainbow Pride Parade and Festival
7 hours ago
Categories

Trump Says Musk Relationship Over, Warns of ‘Serious Consequences’ if He Funds Democrats

Trump Has Options to Punish Musk Even if His Federal Contracts Continue

Ukrainian Attack Damaged 10% of Russia’s Strategic Bombers, Germany Says

Why Reforming California’s Bedrock Environmental Law Is Good for the Environment

Sinner Bids for His First French Open Title Against Defending Champion Alcaraz
