Prior quarter was 0.8%Employment benefits 0.7% vs 0.8% prior quarterEmployment wages 0.7% vs 0.8% prior quarter
The Employment Cost Index (ECI) is a quarterly report from the Bureau of Labor Statistics (BLS) that measures the change in the total cost of labor for businesses. The Fed considers the ECI the “gold standard” for measuring wage inflation because it is more precise and comprehensive, the only drawback is that it’s not as timely as the Average Hourly Earnings data.
This article was written by Giuseppe Dellamotta at investinglive.com.