The Employment Cost Index (ECI) for the first quarter of 2018 was released by The Labor Department's Bureau of Labor Statistics this morning:
Predicted: +0.7%
Actual: +0.8%
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- Reading from previous quarter: +0.6%
- Change from 12 months previous (Y/Y): +2.7%
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The yellow-highlighter figure represents the quarter-to-quarter change for the ECI, which is the Labor Department's broadest measure of employee-compensation costs, and includes wages, salaries and benefits.
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- Wages and Salaries: +0.9%
- Benefits: +0.7%
From the Labor Department website:
"...The Employment Cost Index (ECI) measures the change in the cost of labor, free from the influence of employment shifts among occupations and industries..."
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- The ECI report for the second quarter of 2018 will be released on July 31, 2018.
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