2017 Economic Calendar
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Employment Cost Index  
Released On 7/28/2017 8:30:00 AM For Q2:17
PriorConsensusConsensus RangeActual
ECI - Q/Q change0.8 %0.6 %0.5 % to 1.0 %0.5 %
ECI - Y/Y change2.4 %2.4 %

Employer costs slowed in the second quarter, rising a quarter-on-quarter 0.5 percent vs an outsized 0.8 percent in the first quarter. The year-on-year rate is steady at a moderate 2.4 percent. The split between wage & salary costs and benefit costs is balanced, at respective quarterly growth of 0.5 and 0.6 percent and respective yearly rates of 2.3 and 2.5 percent. Price readings on labor have been subdued this year and now include employer costs. Low wages are becoming an unwanted feature of the 2017 economy.

Consensus Outlook
Wage growth has been subdued this year but not employer costs which, in a gain last seen in 2007, jumped 0.8 percent in the first quarter. The Econoday consensus is calling for slowing to 0.6 percent in the second quarter.

A measure of total employee compensation costs, including wages and salaries as well as benefits. The employment cost index (ECI) is the broadest measure of labor costs.  Why Investors Care
The employment cost index measured total compensation costs which include wages and salaries and also benefits. Benefits include vacations, but the primary mover is health insurance premiums.
Data Source: Haver Analytics

2017 Release Schedule
Released On: 1/314/287/2810/31
Release For: Q4:16Q1:17Q2:17Q3:17

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