Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: WEDNESDAY, October 27, 1993 TAG: 9310280374 SECTION: BUSINESS PAGE: B-6 EDITION: METRO SOURCE: DATELINE: LENGTH: Short
WASHINGTON - The slowest growth in job benefits in almost six years helped hold U.S. workers' compensation to a 3.6 percent gain in the 12 months ending Sept. 30.
"Health-care costs are decelerating, so fringe-benefit cost increases have slowed," said economist Robert G. Dederick of the Northern Trust Co. in Chicago. Health care represents about one-fourth of benefit costs.
The Labor Department said Tuesday its Employment Cost Index, considered one of the best gauges of wage inflation pressures, was up just slightly from a 3.5 percent advance a year earlier.
Wages and salaries rose 3 percent, against a 2.7 percent gain a year earlier. The advance barely outpaced the period's 2.7 percent inflation rate.
The growth in benefits slowed to 4.9 percent from 5.2 percent a year earlier. It was the smallest since benefits advanced 3.7 percent in 1987. - Associated Press
GM recalls Cadillacs for throttle defect
DETROIT - General Motors Corp. is recalling 8,698 Cadillac Eldorado and Seville models to fix a problem that could cause their accelerators to stick.
The accelerator cable on the 1994 models could come loose from a bracket, forcing the throttle to stick in an open or closed position, GM said. Braking would still stop a car with an open throttle, but the engine would have to be turned off to stop it from revving.
Owners are being told to take their vehicles to a Cadillac dealer for free repairs. - Associated Press
by CNB