Employment Cost Index

The Employment Cost Index (ECI), released by US Bureau of Labour Statistics, is a quarterly measure of the change in the price of labor, defined as compensation per employee hour worked. Closely watched by many economists, the ECI is an indicator of cost pressures within companies that could lead to price inflation for finished goods and services. The index measures changes in the cost of compensation not only for wages and salaries, but also for an extensive list of benefits.

Most recent - Wednesday 31 January 2024 13:30

Previous
1.1%
Revised
-
Forecast
1%
Actual
0.9%

Lower numbers than forecast tend to be bullish for xxx/USD pairs and bearish for USD/xxx pairs.

Trading range

Forecast history

The most recent announced value for Employment Cost Index was 0.9% against a forecast of 1%.

Past events

Date
Forecast
Actual
Wednesday 31 January 2024 13:30
1%
0.9%
Tuesday 31 October 2023 12:30
1%
1.1%
Friday 28 July 2023 12:30
1.1%
1%
Friday 28 April 2023 12:30
1.1%
1.2%
Tuesday 31 January 2023 13:30
1.1%
1%
Friday 28 October 2022 12:30
1.2%
1.2%
Friday 29 July 2022 12:30
1.2%
1.3%
Friday 29 April 2022 12:30
1.1%
1.4%
Friday 28 January 2022 13:30
1.2%
1%
Friday 29 October 2021 12:30
0.9%
1.3%
Friday 30 July 2021 12:30
0.9%
0.7%
Friday 30 April 2021 12:30
0.7%
0.9%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Employment Cost Index result:

PreviousLatest
Existing Home Sales Change (MoM)Bullish change-0.8%3.1%
S&P Global Services PMIBearish change52.551.3
S&P Global Composite PMIBearish change5251.4
S&P Global Manufacturing PMIBullish change50.751.5
Initial Jobless ClaimsBullish change213K201K
Michigan Consumer Sentiment IndexBullish change7979.6
UoM 5-year Consumer Inflation Expectation(no change)2.9%2.9%
Producer Price Index ex Food & Energy (MoM)Bullish change-0.1%0.5%
Building Permits (MoM)Bearish change1.493M1.47M
Housing Starts (MoM)Bearish change1.562M1.331M
Producer Price Index ex Food & Energy (YoY)Bullish change1.7%2%
Producer Price Index (MoM)Bullish change-0.1%0.3%
Producer Price Index (YoY)Bearish change1%0.9%
Industrial Production (MoM)Bearish change0%-0.1%
NY Empire State Manufacturing IndexBullish change-43.7-2.4
Retail Sales (MoM)Bearish change0.4%-0.8%
Philadelphia Fed Manufacturing SurveyBullish change-10.65.2
Initial Jobless ClaimsBullish change220K212K
Retail Sales Control GroupBearish change0.6%-0.4%
Retail Sales ex Autos (MoM)Bearish change0.4%-0.6%
Consumer Price Index ex Food & Energy (YoY)(no change)3.9%3.9%
Consumer Price Index (MoM)Bullish change0.2%0.3%
Consumer Price Index ex Food & Energy (MoM)Bullish change0.3%0.4%
Consumer Price Index (YoY)Bearish change3.4%3.1%
Monthly Budget StatementBullish change$-129B$-22B

About Employment Cost Index

Country:United States
Currency:USD
Source:US Bureau of Labor Statistics
Category:Labor Market
Frequency:Quarterly

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