Employee Compensation Grew 4.9% In First Quarter

Employer costs for employee compensation grew 4.9% in the year ending March, the Labor Department said Wednesday. That was the same rate of growth as in the fourth quarter. Total employer compensation costs for civilian workers, which include private industry and state and local government workers, averaged $33.49 per hour. The market is paying close attention to measures of wage growth as the Federal Reserve debates when to start lifting interest rates.