Overall, the growth in employers' compensation costs moderated slightly in the second quarter, coming in at 1.3%, before accounting for inflation. That compares to 1.4% in the first quarter but was still slightly higher growth than economists expected.

However, over the course of the year ending in June, total compensation costs jumped 5.1%, a quicker pace than the 4.5% increase for the year ending in March.

The growth in benefits costs, which takes into account the amount paid for retirement, health and other benefits, dipped to 1.2% for the spring, compared to 1.8% in the prior quarter.

Benefits costs increased 4.8% over the most recent 12 months, compared to 4.1% over the year ending in March.