Total employee compensation in the U.S. rose in the fourth quarter of last year and marked the highest year-over-year gain since 2008, Bloomberg reports. Private-sector wages and salaries also rose 2.8% in Q4, continuing the upward trend.
Why it matters: "The latest year-over-year increase in compensation indicates employers are making more generous offers as they compete for workers in the tightening labor market," Bloomberg's Sho Chandra writes.