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.

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United States Employment Cost Index QoQ

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.60 2.00 0.20 1982 - 2019 percent Quarterly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-01-31 01:30 PM Q4 0.7% 0.8% 0.8% 0.6%
2019-04-30 12:30 PM Q1 0.7% 0.7% 0.7% 0.8%
2019-07-31 12:30 PM Q2 0.6% 0.7% 0.7% 0.6%
2019-10-31 12:30 PM Q3 0.7% 0.6% 0.7% 0.6%
2020-01-31 01:30 PM Q4 0.7% 0.7% 0.8%


News Stream
2019-07-31
US Employment Costs Rise Less than Expected
Compensation costs for civilian workers in the US increased 0.6 percent in the second quarter of 2019, following a 0.7 percent advance in the previous three-month period and missing market consensus of 0.7 percent. Wages and salaries rose 0.7 percent, the same pace as in the first quarter, and benefit costs increased 0.5 percent, slower than 0.7 percent.

2019-04-30
US Employment Costs Rise 0.7% in Q1
Compensation costs for civilian workers in the US increased 0.7 percent in the first quarter of 2019, the same pace as in the previous three-month period and in line with market expectations. Wages and salaries, which make up about 70 percent of compensation costs, rose 0.7 percent (vs 0.6 percent in Q4) and benefit costs, which make up the remaining 30 percent of compensation, went up 0.7 percent (the same as in Q4). Year-on-year, employment costs grew 2.8 percent in the first quarter.

2019-01-31
US Employment Costs Rise Less than Expected in Q4
Compensation costs for civilian workers in the US increased 0.7 percent in the fourth quarter of 2018, following a 0.8 percent advance in the previous three-month period and missing market expectations of 0.8 percent. Wages and salaries, which make up about 70 percent of compensation costs, rose 0.6 percent (vs 0.9 percent in Q3) and benefit costs, which make up the remaining 30 percent of compensation, went up 0.7 percent (vs 0.4 percent in Q3). Year-on-year, employment costs grew 2.9 percent in the fourth quarter.


United States Employment Cost Index QoQ
Employment Cost Index measures the growth of employee compensation (wages and benefits). The ECI is based on a survey of employer payrolls in the final month of each quarter. The index tracks movement in the cost of labor, including wages, fringe benefits and bonuses for employees at all levels of a company.

United States Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.50 3.50 10.80 2.50 percent [+]
Non Farm Payrolls 145.00 256.00 1118.00 -1959.00 Thousand [+]
Nonfarm Payrolls Private 139.00 243.00 1092.00 -1766.00 Thousand [+]
Government Payrolls 6.00 13.00 427.00 -260.00 Thousand [+]
Manufacturing Payrolls -12.00 58.00 655.00 -1715.00 Thousand [+]
Initial Jobless Claims 211.00 205.00 695.00 162.00 Thousand [+]
Continuing Jobless Claims 1731.00 1768.00 6635.00 988.00 Thousand [+]
ADP Employment Change 202.00 124.00 360.00 -706.00 Thousand [+]
Employed Persons 158803.00 158536.00 158803.00 57172.00 Thousand [+]
Unemployed Persons 5753.00 5811.00 15352.00 1596.00 Thousand [+]
Average Hourly Earnings 0.10 0.30 0.60 -0.20 percent [+]
Average Weekly Hours 34.30 34.30 34.60 33.70 Hours [+]
Labor Force Participation Rate 63.20 63.20 67.30 58.10 percent [+]
Long Term Unemployment Rate 0.72 0.74 4.40 0.08 percent [+]
Youth Unemployment Rate 8.10 8.00 19.50 4.80 percent [+]
Productivity 107.53 107.59 107.59 25.99 points [+]
Labour Costs 112.00 111.30 112.00 17.00 points [+]
Job Vacancies 6465.00 7626.00 7884.00 2157.00 Thousand [+]
Job Offers 6800.00 7361.00 7626.00 2264.00 Thousand [+]
Challenger Job Cuts 32843.00 44569.00 248475.00 15100.00 Persons [+]
Wages 23.79 23.77 23.79 2.50 USD/Hour [+]
Wages in Manufacturing 22.57 22.41 22.57 1.27 USD/Hour [+]
Wage Growth 5.34 5.03 13.78 -5.88 percent [+]
Minimum Wages 7.25 7.25 7.25 0.25 USD/Hour [+]
Employment Cost Index 0.70 0.60 2.00 0.20 percent [+]
Population 327.17 325.15 327.17 76.09 Million [+]
Retirement Age Women 66.00 66.00 66.00 66.00 [+]
Retirement Age Men 66.00 66.00 66.00 66.00 [+]
Employment Rate 61.00 61.00 64.70 54.90 percent [+]
Full Time Employment 131755.00 131562.00 131755.00 64640.00 Thousand [+]
Wages Low Skilled 1960.00 1760.00 2340.00 1760.00 USD/Month [+]
Wages High Skilled 4520.00 4330.00 4950.00 4330.00 USD/Month [+]
Part Time Employment 26992.00 26992.00 28134.00 10086.00 Thousand [+]
Living Wage Family 2380.00 2270.00 2380.00 2160.00 USD/Month [+]
Living Wage Individual 1660.00 1560.00 1660.00 1450.00 USD/Month [+]