US employment cost index edges past forecasts

The US employment cost index increased by at a 0.7% quarter-on-quarter pace in the three months to September, according to the Department of Labour.

Versus a year ago it registered an increase of 2.2%.

Analysts had been expecting a rise of 0.5% for over the last quarter.

Wages and salaries for civilian workers registered a rise of 0.8% (2.1% year-on-year), while benefits gained 0.6%.