FX.co ★ US Employment Costs Slightly Above Forecasts

Compensation costs for civilian workers in the United States increased by 0.9% in the second quarter of 2026, matching the rise in the previous quarter and coming in slightly above market expectations of a 0.8% gain. Wages and salaries were up 0.9% (compared with 0.8% in Q1), while benefit costs advanced 1% (following a 1.2% increase in Q1). Among private industry workers, compensation costs rose 0.9%, unchanged from the first quarter. For state and local government employees, compensation costs also climbed 1%, the same pace as in Q1. On a year-over-year basis, overall employment costs increased 3.4%, holding steady from the prior period.