WASHINGTON >> U.S. paychecks increased moderately in the final three months of last year, yet the gain was little changed from the sluggish post-recession trend.
The employment cost index, which tracks wages and benefits, rose 0.6 percent in the October-December quarter, the Labor Department said Friday. That’s the same as the previous three months.
In the past year, salaries and benefits have risen just 2 percent, the same annual pace as the previous two quarters. That is below the roughly 3.5 percent rate that is consistent with a healthy economy.
There have been some signs wages are picking up in other data, but those gains are modest. Average hourly pay increased 2.5 percent in December from a year earlier, according to the government’s monthly jobs report. That was only the second time since 2009 that increases have reached that level, but it’s not far from the sluggish 2 percent pace that has existed since the recession.
Nissan recalls Altimas to fix hood latches
DETROIT >> Nissan is recalling nearly 930,000 Altima midsize cars worldwide — some for a third time — to fix a latch problem that could let the hood fly open while the cars are moving.
The new recall covers cars from the 2013 to 2015 model years including 846,000 in the U.S. that were made at factories in Smyrna, Tenn., and Canton, Miss.
Nissan says paint can flake off the latch, exposing bare metal. Over time the latches can rust and cause the secondary hood latch to remain open. If the main latch isn’t closed and the car is driven, the secondary latch might not hold the hood down, Nissan said in documents posted Friday on the National Highway Traffic Safety Administration website.
Nissan will notify owners and replace the latches for free starting in mid-February.