Econoday Economic Report: Employment Cost Index

2011 Economic Calendar

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Employment Cost Index

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Released On 4/25/2011 8:30:00 AM For Q1, 2011

	Prior	Actual
ECI - Q/Q change	0.4 %	0.6 %
ECI - Y/Y change	2.0 %	2.0 %

Highlights
A rise in benefit costs fed an above-trend rise in the employment cost index which however shows no acceleration in wages. The ECI rose a quarterly 0.6 percent in the first quarter vs a run of 0.4 percent gains in prior quarters. Year-on-year, the ECI is up 2.0 percent for no change vs the fourth quarter. Wages rose 0.4 percent, the same pace as the fourth quarter, and are up only 1.6 percent year on year. Benefits jumped 1.1 percent for a 3.0 percent year-on-year increase with health benefits for employers up 3.4 percent. For comparison, the year-on-year rate for the CPI was 2.7 percent in March.

Definition
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

2011 Released Schedule

Released On: 1/24 4/25 7/25 10/24

Release For: Q4 Q1 Q2 Q3