Compensation costs for civilian workers in the US increased 0.7 percent in the third quarter of 2019, more than a 0.6 percent rise in the previous period and in line with market expectations. Wages and salaries rose 0.9 percent, above a 0.7 percent gain in the second quarter, and benefit costs went up 0.6 percent, faster than 0.5 percent. Employment Cost Index in the United States averaged 0.83 percent from 1982 until 2019, reaching an all time high of 2 percent in the third quarter of 1982 and a record low of 0.20 percent in the second quarter of 2015.
Employment Cost Index in the United States is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Employment Cost Index in the United States to stand at 0.70 in 12 months time. In the long-term, the United States Employment Cost Index QoQ is projected to trend around 0.60 percent in 2020, according to our econometric models.