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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 693-4657
Although the Employment Cost Index rose 1.1% for the period March-June
1999, it rose at a moderate 3.2% over the year ending in June 1999. The rise
from June 1998-June 1999 is smaller than the increase (of 3.5%) that had
occurred over the previous 12-month period.
Wage and salary growth remains consistent with the very strong growth in
the productivity of our nation's economy, which has averaged 2.9% over the past
year. Taken together, this implies low inflation and significant real wage
growth for workers. In fact, the average real wage gains for workers over the
past three years are the largest on record.
Archived News Release--Caution:
information may be out of date.
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