WASHINGTON (AP) -- Employers' costs to hire and retain workers grew at a slower pace in the first three months of this year.
The Labor Department reported on Wednesday that compensation costs -- wages, salaries and benefits -- rose 0.7 percent in the January-to-March quarter, the slowest pace in two years. Many economists were expecting a slightly higher, 0.8 percent rise. The report suggests that the weak labor market is making employers a bit less generous with their compensation.
