US Labor Costs Rise Moderately in Q3, ECI Matches Expectations
1 report, 1 independent
Updated 00:00
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What happened
The Bureau of Labor Statistics reported that US labor costs increased moderately during the third quarter. The Employment Cost Index (ECI), which measures labor costs, rose 0.8% in the April-June period and 3.4% over the 12 months through September. This increase was in line with economists’ expectations.
From 933thedrive.com
Why it matters
The ECI is viewed by policymakers as a key measure of labor market slack and a predictor of core inflation. The moderate rise in labor costs suggests benign wage inflation.
From 933thedrive.com
Who's involved
- ECIThe broadest measure of labor costs used to track wage inflation.