Wages in the U.S. adjusted for inflation climbed at a slower pace in the third quarter, a new index showed.
Real pay climbed 0.8 percent from July through September, the smallest increase since the last three months of 2012, after rising 1.14 percent in the second quarter, the ADP Research Institute in Roseland, New Jersey, reported.
The group’s Workforce Vitality Index tracks measures such as employment and hourly wages for workers who remain in their jobs and those who are newly hired, according to a statement.
The gain in the index since the start on 2013 has been mainly driven by the gain in wages for people who stay in their jobs, the report said.
“This may mean that employers are becoming more confident about the economy and are focusing on retaining talent by raising wages,” the report said.
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