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Archived News Release--Caution:
information may be out of date.
For more information call: 202/219-8211.
Secretary of Labor Robert B. Reich today issued the
following statement after the release of the Employment Cost Index figures:
"While economic growth and corporate profits continue to
accelerate, wages are idling at the same speed as inflation. Today's release
from the Bureau of Labor Statistics on the Employment Cost Index shows
employers' nominal compensation costs (wages, salaries and benefits) rose only
2.5 percent for private sector workers over the 12 months ending in September
1995. This is the smallest nominal gain since the data were first collected in
1980.
"With profits, productivity and GDP up, there's room for
workers and their families to get a raise without driving the economy off the
road of steady, non-inflationary growth."
Archived News Release--Caution:
information may be out of date.
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