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. 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 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 August of 2022.

Employment Cost Index in the United States is expected to be 0.60 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
2022-04-29 12:30 PM Q1 1.4% 1% 1.1%
2022-07-29 12:30 PM Q2 1.3% 1.4% 1.2% 1.2%
2022-10-28 12:30 PM Q3 1.3%


Related Last Previous Unit Reference
Unemployment Rate 3.50 3.60 percent Jul 2022
Non Farm Payrolls 528.00 398.00 Thousand Jul 2022
Unemployed Persons 5670.00 5912.00 Thousand Jul 2022
Employed Persons 158290.00 158111.00 Thousand Jul 2022
Average Hourly Earnings 0.50 0.40 percent Jul 2022
Average Weekly Hours 34.60 34.60 Hours Jul 2022
Labor Force Participation Rate 62.10 62.20 percent Jul 2022
Productivity 109.70 111.01 points Jun 2022
Labour Costs 131.31 127.98 points Jun 2022
Job Offers 10698.00 11303.00 Thousand Jun 2022
Wages 27.57 27.45 USD/Hour Jul 2022
Employment Cost Index 1.30 1.40 percent Jun 2022
Employment Cost Index Wages 1.40 1.20 percent Jun 2022
Employment Cost Index Benefits 1.20 1.80 percent Jun 2022
Employment Rate 60.00 59.90 percent Jul 2022
Full Time Employment 132577.00 132648.00 Thousand Jul 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
1.30 1.40 2.00 0.20 1982 - 2022 percent Quarterly
SA

News Stream
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
US Labor Costs Rise the Most in 20 Years in 2021
Compensation costs for civilian workers in the US rose a nonadjusted 4.0 percent, the most since 2001 and compared with a 2.5 percent gain in 2020 as employees received a large pay increases due to tight labor market and high inflation. In 2021, wages and salaries rose 4.5 percent while benefits were up 2.8 percent. In the last three months of 2021 alone labour costs were up 1% quarter on quarter, easing from 1.3 percent in the previous period and below market expectations of 1.2 percent. Wages and salaries increased 1.1 percent (vs 1.5 percent in Q3) and costs with benefits went up 0.9 percent, the same as in the previous quarter.
2022-01-28