Employment Cost Index for Q1, 2022

The Employment Cost Index (ECI) for the first quarter of 2022 was released by The Labor Department's Bureau of Labor Statistics this morning:

Predicted: +1.0%
Actual: +1.4%

• Reading from previous quarter: +1.0%
   
• Change from 12 months previous (Y/Y): +4.5%

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): +4.7% 

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• Benefits: +1.8%
  
  
• Change from 12 months previous (Y/Y): +4.1% 

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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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CHART: Wages and Salaries and Benefits for Civilian Workers
12 Month Percent Change - Q1, 2022 UPDATE

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• Click here to view the full Department of Labor report.
  
  
  
• Charts and Tables

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