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United States Employment Cost Index Wages

Price

1.1 %

Change +/-

-0.1 %

Percentage Change

-8.70 %

The current value of the Employment Cost Index Wages in United States is 1.1 %. The Employment Cost Index Wages in United States decreased to 1.1 % on 12/1/2023, after it was 1.2 % on 9/1/2023. From 6/1/1982 to 3/1/2024, the average GDP in United States was 0.8 %. The all-time high was reached on 9/1/1982 with 1.6 %, while the lowest value was recorded on 6/1/2015 with 0.2 %.

Source: U.S. Bureau of Labor Statistics

Employment Cost Index Wages ·

3 years
5 years
10 years
25 Years
Max

Employment Cost Index Wages

	Employment Cost Index Wages
6/1/1982	1.4 %
9/1/1982	1.6 %
12/1/1982	1.3 %
3/1/1983	1.1 %
6/1/1983	1.3 %
9/1/1983	1.1 %
12/1/1983	1.3 %
3/1/1984	1.5 %
6/1/1984	0.8 %
9/1/1984	0.8 %
12/1/1984	1.2 %
3/1/1985	1.2 %
6/1/1985	1.2 %
9/1/1985	1.2 %
12/1/1985	0.8 %
3/1/1986	1 %
6/1/1986	1 %
9/1/1986	0.6 %
12/1/1986	0.9 %
3/1/1987	0.9 %
6/1/1987	0.7 %
9/1/1987	0.7 %
12/1/1987	0.9 %
3/1/1988	0.9 %
6/1/1988	1.3 %
9/1/1988	0.9 %
12/1/1988	1.1 %
3/1/1989	1.2 %
6/1/1989	1 %
9/1/1989	1.2 %
12/1/1989	1 %
3/1/1990	1.2 %
6/1/1990	1.2 %
9/1/1990	1 %
12/1/1990	0.8 %
3/1/1991	1.1 %
6/1/1991	0.9 %
9/1/1991	0.8 %
12/1/1991	0.8 %
3/1/1992	0.8 %
6/1/1992	0.6 %
9/1/1992	0.5 %
12/1/1992	0.9 %
3/1/1993	0.7 %
6/1/1993	0.6 %
9/1/1993	0.9 %
12/1/1993	0.7 %
3/1/1994	0.4 %
6/1/1994	0.9 %
9/1/1994	0.7 %
12/1/1994	0.7 %
3/1/1995	0.7 %
6/1/1995	0.8 %
9/1/1995	0.7 %
12/1/1995	0.7 %
3/1/1996	1 %
6/1/1996	0.8 %
9/1/1996	0.7 %
12/1/1996	0.8 %
3/1/1997	0.8 %
6/1/1997	0.9 %
9/1/1997	0.8 %
12/1/1997	1.2 %
3/1/1998	0.8 %
6/1/1998	0.9 %
9/1/1998	1.1 %
12/1/1998	0.9 %
3/1/1999	0.4 %
6/1/1999	1.1 %
9/1/1999	1 %
12/1/1999	1 %
3/1/2000	1.1 %
6/1/2000	0.9 %
9/1/2000	0.8 %
12/1/2000	0.8 %
3/1/2001	1 %
6/1/2001	0.9 %
9/1/2001	1 %
12/1/2001	0.9 %
3/1/2002	0.8 %
6/1/2002	0.9 %
9/1/2002	0.5 %
12/1/2002	0.4 %
3/1/2003	1 %
6/1/2003	0.6 %
9/1/2003	0.7 %
12/1/2003	0.5 %
3/1/2004	0.6 %
6/1/2004	0.6 %
9/1/2004	0.7 %
12/1/2004	0.5 %
3/1/2005	0.7 %
6/1/2005	0.5 %
9/1/2005	0.6 %
12/1/2005	0.8 %
3/1/2006	0.6 %
6/1/2006	0.8 %
9/1/2006	1 %
12/1/2006	0.8 %
3/1/2007	1 %
6/1/2007	0.8 %
9/1/2007	0.8 %
12/1/2007	0.8 %
3/1/2008	0.7 %
6/1/2008	0.8 %
9/1/2008	0.6 %
12/1/2008	0.5 %
3/1/2009	0.3 %
6/1/2009	0.4 %
9/1/2009	0.4 %
12/1/2009	0.4 %
3/1/2010	0.4 %
6/1/2010	0.4 %
9/1/2010	0.4 %
12/1/2010	0.4 %
3/1/2011	0.4 %
6/1/2011	0.4 %
9/1/2011	0.4 %
12/1/2011	0.3 %
3/1/2012	0.5 %
6/1/2012	0.4 %
9/1/2012	0.3 %
12/1/2012	0.3 %
3/1/2013	0.4 %
6/1/2013	0.5 %
9/1/2013	0.4 %
12/1/2013	0.5 %
3/1/2014	0.3 %
6/1/2014	0.6 %
9/1/2014	0.8 %
12/1/2014	0.5 %
3/1/2015	0.7 %
6/1/2015	0.2 %
9/1/2015	0.6 %
12/1/2015	0.6 %
3/1/2016	0.6 %
6/1/2016	0.7 %
9/1/2016	0.5 %
12/1/2016	0.6 %
3/1/2017	0.6 %
6/1/2017	0.6 %
9/1/2017	0.7 %
12/1/2017	0.6 %
3/1/2018	0.8 %
6/1/2018	0.6 %
9/1/2018	0.8 %
12/1/2018	0.8 %
3/1/2019	0.7 %
6/1/2019	0.7 %
9/1/2019	0.8 %
12/1/2019	0.7 %
3/1/2020	0.9 %
6/1/2020	0.4 %
9/1/2020	0.5 %
12/1/2020	0.8 %
3/1/2021	1.1 %
6/1/2021	0.8 %
9/1/2021	1.4 %
12/1/2021	1.2 %
3/1/2022	1.2 %
6/1/2022	1.3 %
9/1/2022	1.3 %
12/1/2022	1.2 %
3/1/2023	1.2 %
6/1/2023	1 %
9/1/2023	1.2 %
12/1/2023	1.1 %

Employment Cost Index Wages History

Date	Value
12/1/2023	1.1 %
9/1/2023	1.2 %
6/1/2023	1 %
3/1/2023	1.2 %
12/1/2022	1.2 %
9/1/2022	1.3 %
6/1/2022	1.3 %
3/1/2022	1.2 %
12/1/2021	1.2 %
9/1/2021	1.4 %
6/1/2021	0.8 %
3/1/2021	1.1 %
12/1/2020	0.8 %
9/1/2020	0.5 %
6/1/2020	0.4 %
3/1/2020	0.9 %
12/1/2019	0.7 %
9/1/2019	0.8 %
6/1/2019	0.7 %
3/1/2019	0.7 %
12/1/2018	0.8 %
9/1/2018	0.8 %
6/1/2018	0.6 %
3/1/2018	0.8 %
12/1/2017	0.6 %
9/1/2017	0.7 %
6/1/2017	0.6 %
3/1/2017	0.6 %
12/1/2016	0.6 %
9/1/2016	0.5 %
6/1/2016	0.7 %
3/1/2016	0.6 %
12/1/2015	0.6 %
9/1/2015	0.6 %
6/1/2015	0.2 %
3/1/2015	0.7 %
12/1/2014	0.5 %
9/1/2014	0.8 %
6/1/2014	0.6 %
3/1/2014	0.3 %
12/1/2013	0.5 %
9/1/2013	0.4 %
6/1/2013	0.5 %
3/1/2013	0.4 %
12/1/2012	0.3 %
9/1/2012	0.3 %
6/1/2012	0.4 %
3/1/2012	0.5 %
12/1/2011	0.3 %
9/1/2011	0.4 %
6/1/2011	0.4 %
3/1/2011	0.4 %
12/1/2010	0.4 %
9/1/2010	0.4 %
6/1/2010	0.4 %
3/1/2010	0.4 %
12/1/2009	0.4 %
9/1/2009	0.4 %
6/1/2009	0.4 %
3/1/2009	0.3 %
12/1/2008	0.5 %
9/1/2008	0.6 %
6/1/2008	0.8 %
3/1/2008	0.7 %
12/1/2007	0.8 %
9/1/2007	0.8 %
6/1/2007	0.8 %
3/1/2007	1 %
12/1/2006	0.8 %
9/1/2006	1 %
6/1/2006	0.8 %
3/1/2006	0.6 %
12/1/2005	0.8 %
9/1/2005	0.6 %
6/1/2005	0.5 %
3/1/2005	0.7 %
12/1/2004	0.5 %
9/1/2004	0.7 %
6/1/2004	0.6 %
3/1/2004	0.6 %
12/1/2003	0.5 %
9/1/2003	0.7 %
6/1/2003	0.6 %
3/1/2003	1 %
12/1/2002	0.4 %
9/1/2002	0.5 %
6/1/2002	0.9 %
3/1/2002	0.8 %
12/1/2001	0.9 %
9/1/2001	1 %
6/1/2001	0.9 %
3/1/2001	1 %
12/1/2000	0.8 %
9/1/2000	0.8 %
6/1/2000	0.9 %
3/1/2000	1.1 %
12/1/1999	1 %
9/1/1999	1 %
6/1/1999	1.1 %
3/1/1999	0.4 %
12/1/1998	0.9 %
9/1/1998	1.1 %
6/1/1998	0.9 %
3/1/1998	0.8 %
12/1/1997	1.2 %
9/1/1997	0.8 %
6/1/1997	0.9 %
3/1/1997	0.8 %
12/1/1996	0.8 %
9/1/1996	0.7 %
6/1/1996	0.8 %
3/1/1996	1 %
12/1/1995	0.7 %
9/1/1995	0.7 %
6/1/1995	0.8 %
3/1/1995	0.7 %
12/1/1994	0.7 %
9/1/1994	0.7 %
6/1/1994	0.9 %
3/1/1994	0.4 %
12/1/1993	0.7 %
9/1/1993	0.9 %
6/1/1993	0.6 %
3/1/1993	0.7 %
12/1/1992	0.9 %
9/1/1992	0.5 %
6/1/1992	0.6 %
3/1/1992	0.8 %
12/1/1991	0.8 %
9/1/1991	0.8 %
6/1/1991	0.9 %
3/1/1991	1.1 %
12/1/1990	0.8 %
9/1/1990	1 %
6/1/1990	1.2 %
3/1/1990	1.2 %
12/1/1989	1 %
9/1/1989	1.2 %
6/1/1989	1 %
3/1/1989	1.2 %
12/1/1988	1.1 %
9/1/1988	0.9 %
6/1/1988	1.3 %
3/1/1988	0.9 %
12/1/1987	0.9 %
9/1/1987	0.7 %
6/1/1987	0.7 %
3/1/1987	0.9 %
12/1/1986	0.9 %
9/1/1986	0.6 %
6/1/1986	1 %
3/1/1986	1 %
12/1/1985	0.8 %
9/1/1985	1.2 %
6/1/1985	1.2 %
3/1/1985	1.2 %
12/1/1984	1.2 %
9/1/1984	0.8 %
6/1/1984	0.8 %
3/1/1984	1.5 %
12/1/1983	1.3 %
9/1/1983	1.1 %
6/1/1983	1.3 %
3/1/1983	1.1 %
12/1/1982	1.3 %
9/1/1982	1.6 %
6/1/1982	1.4 %

...

Similar Macro Indicators to Employment Cost Index Wages

Name	Current	Previous	Frequency
🇺🇸 ADP Employment Change	152,000	188,000	Monthly
🇺🇸 Announcements of Hiring Plans	4,236 Persons	9,802 Persons	Monthly
🇺🇸 Average Hourly Earnings	0.4 %	0.2 %	Monthly
🇺🇸 Average Hourly Earnings YoY	4.1 %	4 %	Monthly
🇺🇸 Average Weekly Hours	34.3 Hours	34.3 Hours	Monthly
🇺🇸 Cancellation rate	2.2 %	2.2 %	Monthly
🇺🇸 Challenger Job Cuts	57,727 Persons	55,597 Persons	Monthly
🇺🇸 Continued Jobless Claims	1.875 M	1.869 M	frequency_weekly
🇺🇸 Employed persons	161.141 M	161.496 M	Monthly
🇺🇸 Employment Cost Index	1.2 %	0.9 %	Quarter
🇺🇸 Employment Cost Index Benefits	1.1 %	0.7 %	Quarter
🇺🇸 Employment rate	60.1 %	60.2 %	Monthly
🇺🇸 Full-time employment	133.385 M	133.496 M	Monthly
🇺🇸 Initial Jobless Claims	242,000	224,000	frequency_weekly
🇺🇸 Job Opportunities	8.14 M	7.919 M	Monthly
🇺🇸 Job Opportunities	8.167 M	7.239 M	Monthly
🇺🇸 Job resignations	3.459 M	3.452 M	Monthly
🇺🇸 Labor costs	121.983 points	121.397 points	Quarter
🇺🇸 Labor force participation rate	62.5 %	62.6 %	Monthly
🇺🇸 Layoffs and Terminations	1.498 M	1.678 M	Monthly
🇺🇸 Long-term unemployment rate	0.8 %	0.74 %	Monthly
🇺🇸 Manufacturing wages	22,000	-48,000	Monthly
🇺🇸 Minimum Wages	7.25 USD/Hour	7.25 USD/Hour	Annually
🇺🇸 Non-Agricultural Productivity QoQ	2.2 %	2.1 %	Quarter
🇺🇸 Non-farm Payrolls	272,000	165,000	Monthly
🇺🇸 Nonfarm Private Employment	229,000	158,000	Monthly
🇺🇸 Part-time work	28.004 M	27.718 M	Monthly
🇺🇸 Population	335.89 M	334.13 M	Annually
🇺🇸 Productivity	111.909 points	111.827 points	Quarter
🇺🇸 Retirement Age Men	66.67 Years	66.5 Years	Annually
🇺🇸 Retirement Age Women	66.67 Years	66.5 Years	Annually
🇺🇸 State payroll accounting	43,000	7,000	Monthly
🇺🇸 U6 Unemployment Rate	7.4 %	7.4 %	Monthly
🇺🇸 Unemployed Persons	7.145 M	6.984 M	Monthly
🇺🇸 Unemployment Claims 4-Week Average	240,750	238,250	frequency_weekly
🇺🇸 Unemployment Rate	4.2 %	4.1 %	Monthly
🇺🇸 Unit Labor Costs QoQ	0.8 %	-1.1 %	Quarter
🇺🇸 Wage Growth	5.6 %	5.3 %	Monthly
🇺🇸 Wages	29.99 USD/Hour	29.85 USD/Hour	Monthly
🇺🇸 Wages in Manufacturing	28.3 USD/Hour	28.18 USD/Hour	Monthly
🇺🇸 Youth Unemployment Rate	9.4 %	9.5 %	Monthly

The Employment Cost Index (ECI) measures the change in labor costs, independent of employment shifts among different occupations and industry categories. This index encompasses changes in both wages and salaries as well as employer costs for employee benefits. The ECI calculates separate indexes for total compensation, wages and salaries, and benefits for all civilian workers in the United States, private industry workers, and state and local government workers.

What is Employment Cost Index Wages?

The Employment Cost Index (ECI) Wages is a pivotal macroeconomic indicator diligently tracked by economists, policymakers, businesses, and investors worldwide. At Eulerpool, where precision meets professional economic data presentation, we understand the critical role that the ECI Wages plays in providing insights into the pricing and wage dynamics of the labor market. This index is an essential tool for analyzing compensation trends and understanding inflationary pressures within an economy. With its broad implications, the Employment Cost Index Wages can significantly influence monetary policies, corporate budgeting, and investment strategies. The Employment Cost Index Wages measures the changes in the cost of labor, free from the distortions produced by shifts in the composition of employment across occupations and industries. Managed by the Bureau of Labor Statistics (BLS), the ECI offers valuable quarterly insights into the changes in wages and salaries disbursed to civilian workers. This carefully calculated index encompasses various sectors, including private industry and public sectors, thus providing a holistic view of wage trends across the economy. One of the key advantages of the ECI Wages is its thorough and comparative consistency. Unlike average wage measures that can be swayed by changes in the employment mix, the ECI adjusts for these factors, ensuring that the data represents pure wage inflation over time. With such a granular focus, the ECI becomes an incisive tool for interpreting labor cost movements accurately. Understanding the Employment Cost Index Wages is of paramount importance for several reasons. Firstly, it serves as a gauge for inflation within the labor market. Inflationary trends in wages and compensation directly impact consumer spending power and, by extension, the overall economic health. For central banks, such as the Federal Reserve in the United States, monitoring ECI Wages is indispensable in formulating monetary policies. A sustained rise in wages could signal overheating in the labor market, prompting a tightening of monetary policies to temper inflation. Conversely, stagnant or declining ECI Wages might indicate a need for stimulative measures to boost economic activity. Moreover, the ECI Wages is a critical barometer for businesses in strategizing their operations. For human resources departments and corporate planners, understanding wage trends is crucial for budgeting and forecasting compensation packages. Staying abreast of wage inflation helps businesses adjust salaries to attract and retain talent in a competitive market. Additionally, sectors heavily reliant on labor-intensive operations must monitor these trends to manage costing and pricing strategies effectively. Sudden surges in wage costs can compress profit margins, making it necessary for businesses to align their pricing models accordingly. In the world of investments, the ECI Wages data is a pertinent factor in assessing the economic outlook. Investors analyze this index to gauge future earnings potential of companies, especially those heavily dependent on labor costs. Sectors like manufacturing, construction, and services, which have significant labor cost components, are particularly impacted by changes in wages. A clear understanding of ECI Wages can inform investment decisions, helping investors anticipate the economic cycle phases and adjust their portfolios for optimal returns. Academics and researchers also find the ECI Wages to be a rich source of data for studying labor economics, wage theory, and inflation dynamics. The comprehensive nature of the index, which covers different occupational groups and industries, offers valuable insights for scholarly analysis. Furthermore, ECI Wages data can be cross-referenced with other macroeconomic indicators to develop robust models and forecasts, enhancing the theoretical comprehension and practical application of economic principles. On a broader societal level, ECI Wages impacts policy discussions around income inequality and living standards. Wage growth patterns, as indicated by the ECI, are often scrutinized to assess whether economic progress is translating into improved living conditions for workers across various occupations. The data can shed light on disparities in wage growth, prompting discussions around necessary policy interventions to ensure equitable economic development. Furthermore, the granularity of ECI Wages data benefits longitudinal studies assessing long-term wage trends and their correlation with productivity, technological advancements, and globalization. By dissecting these trends, governments and institutions can craft policies and initiatives aimed at fostering sustained wage growth aligning with economic productivity. The ECI Wages is also pivotal during economic downturns and recovery phases. During recessions, negative or stagnant wage growth reflected in the ECI can illustrate the extent of economic damage and guide policy measures required to stimulate recovery. Conversely, during recovery phases, the index helps track the resumption pace of wage growth, serving as an indicator of economic normalization. In essence, the Employment Cost Index Wages, as represented on platforms like Eulerpool, is a critical macroeconomic tool that serves multiple sectors and stakeholders. Its implications span across monetary policy formulation, business strategy planning, investment decision-making, academic research, and policy-making. At Eulerpool, our commitment is to provide precise, comprehensive, and timely ECI Wages data, enabling our users to harness its full potential in their respective domains. Through detailed tracking and analysis, the ECI Wages index contributes significantly to understanding and navigating the complex dynamics of the labor market and overall economy.

Country

United States

Continent

America

Highest Value

1.6

Lowest Value

0.2

Average Value

0.8

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