US Q2 Employment Cost Index rises a bit more quickly than anticipated

A broad measure of workers' compensation increased modestly more quickly than anticipated over the three months to June.

According to the US Department of Labor, the Employment Cost Index advanced at a quarter-on-quarter clip of 1.3% during the second quarter.

Economists had anticipated an advance of 1.1%.

The wages and salaries component rose a quarterly pace of 1.4% while benefits were up by 1.2%.

In comparison to a year ago, the ECI increased by 5.1% in the second quarter.