US DATA: Q2 ECI +0.5%, as expected, vs +0.4% in Q1. ECI rose 1.7%
y/y, lowest annual increase since Mar 2010. Benefit costs up 0.6% (+2.1%
y/y), while wages +0.4% (+1.7% y/y). Total compensation costs for
private industry up 0.5% vs +0.4% in Q1, +1.8% y/y. Benefit costs in
private industry +0.6% (+1.9 y/y) vs +0.3% in Q1, wages up 0.4% (+1.8%
y/y). Q2 total compensation costs for state/local govts +0.5% vs +0.7%
Q1 (+1.6% y/y). Benefits costs up 0.9% in Q2 after +1.1% in Q1, and
+2.7% y/y. Wages in state/local govt +0.3% (+1.1% y/y). Report does not
measure federal compensation.