Compensation costs for civilian workers in the US increased 1.2 percent on quarter in the three months to September 2022, following a 1.3 percent rise in the previous period and mostly in line with market expectations. Wages and salaries rose 1.3 percent, while benefit costs increased 1.0 percent from June 2022. Year-on-year, compensation costs for civilian workers grew by 5.0 percent in the third quarter, the same as in the previous period. source: U.S. Bureau of Labor Statistics

Employment Cost Index in the United States averaged 0.84 percent from 1982 until 2022, reaching an all time high of 2.00 percent in the third quarter of 1982 and a record low of 0.20 percent in the second quarter of 2015. This page provides - United States Employment Cost Index- actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Employment Cost Index QoQ - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.

Employment Cost Index in the United States is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Employment Cost Index QoQ is projected to trend around 0.60 percent in 2023, according to our econometric models.

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United States Employment Cost Index QoQ



Calendar GMT Actual Previous Consensus TEForecast
2022-07-29 12:30 PM Q2 1.3% 1.4% 1.2% 1.2%
2022-10-28 12:30 PM Q3 1.2% 1.3% 1.2% 1.2%


Related Last Previous Unit Reference
Unemployment Rate 3.70 3.50 percent Oct 2022
Non Farm Payrolls 261.00 315.00 Thousand Oct 2022
Unemployed Persons 6059.00 5753.00 Thousand Oct 2022
Employed Persons 158608.00 158936.00 Thousand Oct 2022
Average Hourly Earnings 0.40 0.30 percent Oct 2022
Average Weekly Hours 34.50 34.50 Hours Oct 2022
Labor Force Participation Rate 62.20 62.30 percent Oct 2022
Productivity 113.14 113.04 points Sep 2022
Labour Costs 127.62 126.52 points Sep 2022
Job Offers 10717.00 10280.00 Thousand Sep 2022
Wages 27.86 27.77 USD/Hour Oct 2022
Employment Cost Index 1.20 1.30 percent Sep 2022
Employment Cost Index Wages 1.30 1.40 percent Sep 2022
Employment Cost Index Benefits 1.00 1.20 percent Sep 2022
Employment Rate 60.00 60.10 percent Oct 2022
Full Time Employment 132228.00 132661.00 Thousand Oct 2022

United States Employment Cost Index QoQ
The Employment Cost Index (ECI) is a measure of the change in the cost of labor, independent of the influence of employment shifts among occupations and industry categories. The total compensation series includes changes in wages and salaries and in employer costs for employee benefits. The ECI calculates indexes of total compensation, wages and salaries, and benefits separately for all civilian workers in the United States, for private industry workers, and for workers in state and local government.
Actual Previous Highest Lowest Dates Unit Frequency
1.20 1.30 2.00 0.20 1982 - 2022 percent Quarterly
SA

News Stream
US Q3 Labor Costs Rise 1.2%
Compensation costs for civilian workers in the US increased 1.2 percent on quarter in the three months to September 2022, following a 1.3 percent rise in the previous period and mostly in line with market expectations. Wages and salaries rose 1.3 percent, while benefit costs increased 1.0 percent from June 2022. Year-on-year, compensation costs for civilian workers grew by 5.0 percent in the third quarter, the same as in the previous period.
2022-10-28
US Q2 Labor Costs Rise More than Expected
Compensation costs for civilian workers in the US rose 1.3 percent quarter-over-quarter in the three months ending June of 2022, slightly slower than a record growth of 1.4 percent increase in the previous period and marginally faster than market expectations of 1.2 percent, as the labor market remained significantly tighter. Wages and salaries increased 1.4 percent (vs 1.2 percent in Q1) and benefits went up 1.2 percent (vs 1.8 percent). Compared with a year earlier, labor costs fell 2.4 percent in the second quarter, following a 3.7 percent contraction in the quarter ending March.
2022-07-29
US Employment Costs Rise More Than Expected
Compensation costs for civilian workers in the US increased 1.4 percent quarter-over-quarter in the first three months of 2022, quickening from a 1.0 percent rise in the previous period and faster than market expectations of a 1.1 percent raise as a tight labour market boosted competition for workers. Wages and salaries increased 1.2 percent (vs 1.0 percent in Q4 2021) and benefits went up 1.8 percent (vs 0.9 percent). Compared with a year earlier, the labor costs surged 4.5%, the most since 2001.
2022-04-29