U.S. employment cost index rises 0.7% in second quarter

U.S. employment costs rose more than expected in the second quarter, official data showed on Thursday.

In a report, the U.S. Bureau of Labor Statistics said employment costs, or the change in the price businesses and the government pay for civilian labor, rose by a seasonally adjusted 0.7% in the three months ended June 30, above expectations for a 0.5% increase.