(Bloomberg) -- The U.S. employment cost index, which measures the costs of wages and benefits in addition to employer-paid taxes such as Social Security and Medicare, rose 2.2 percent in the fourth quarter from a year earlier, Labor Department data showed Tuesday. Both wages and benefits decelerated from 2015. While that's disappointing for workers, especially in a tight job market, contained employment costs help lift corporate profits and limit inflation.
To contact the reporter on this story: Shobhana Chandra in Washington at schandra1@bloomberg.net. To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Vince Golle, Sophie Caronello
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