Employment Cost Index for Q1, 2023
Employment Cost Index (ECI) for the first quarter of 2023 was released by The Labor Department's Bureau of Labor Statistics this morning:
Predicted: +1.1%
Actual: +1.2%
The yellow-highlighter figure represents the seasonally adjusted, 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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From the Labor Department website:
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CHART: Wages and Salaries and Benefits
for Civilian Workers
12 Month Percent Change
Not Seasonally Adjusted
First Quarter, 2023 UPDATE
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Predicted: +1.1%
Actual: +1.2%
- Reading from previous quarter: +1.1%
- Change from 12 months previous (Y/Y): +4.8%
The yellow-highlighter figure represents the seasonally adjusted, 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: +1.2%
- Change from 12 months previous (Y/Y): +5.0%
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- Benefits: +1.2%
- Change from 12 months previous (Y/Y): +4.5%
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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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for Civilian Workers
12 Month Percent Change
Not Seasonally Adjusted
First Quarter, 2023 UPDATE
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Labels: benefits, Coronavirus, COVID-19, COVID19, employment, Employment_Cost_Index, hard_data, inflation, jobs, labor, labor_cost, wages
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posted by Steve Brown | 4/28/2023 08:30:00 PM
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