Labor Costs Jump Most in 13 Years as Inflationary Pressures

Labor Costs Jump Most in 13 Years as Inflationary Pressures Build


Labor Costs Jump Most in 13 Years as Inflationary Pressures Build
Photo by Samuel Corum/Getty Images
30 Apr 2021
Wages and benefits of U.S. workers jumped in the first quarter of the year by the most in 13 years, data released by the Department of Labor showed Friday.
Total compensation for U.S. workers rose 0.9 percent in the January-March quarter. That is an acceleration of wage gains from the final three months of 2020, when wages rose 0.7 percent.
The data showing the gains come amid rising complaints from businesses saying that they are having trouble finding qualified workers. Some businesses have pointed the finger at the federal government’s enhanced unemployment benefits program, which pays jobless Americans $300 a week in addition to regular benefits, as holding back employment expansion.

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