Employment Cost Index

The Employment Cost Index (ECI), released by US Bureau of Labour Statistics, is a quarterly measure of the change in the price of labor, defined as compensation per employee hour worked. Closely watched by many economists, the ECI is an indicator of cost pressures within companies that could lead to price inflation for finished goods and services. The index measures changes in the cost of compensation not only for wages and salaries, but also for an extensive list of benefits.

Most recent - Friday 31 January 2025 13:30

Previous
0.8%
Revised
-
Forecast
0.9%
Actual
0.9%

Next event - Wednesday 30 April 2025 12:30

Previous
0.9%
Forecast
-
Actual
-

The typical/expected impact on USD pairs is medium.

There is no forecast value for Employment Cost Index yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Employment Cost Index was 0.9% against a forecast of 0.9%.

Past events

Date
Forecast
Actual
Friday 31 January 2025 13:30
0.9%
0.9%
Thursday 31 October 2024 12:30
0.9%
0.8%
Wednesday 31 July 2024 12:30
1%
0.9%
Tuesday 30 April 2024 12:30
1%
1.2%
Wednesday 31 January 2024 13:30
1%
0.9%
Tuesday 31 October 2023 12:30
1%
1.1%
Friday 28 July 2023 12:30
1.1%
1%
Friday 28 April 2023 12:30
1.1%
1.2%
Tuesday 31 January 2023 13:30
1.1%
1%
Friday 28 October 2022 12:30
1.2%
1.2%
Friday 29 July 2022 12:30
1.2%
1.3%
Friday 29 April 2022 12:30
1.1%
1.4%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Employment Cost Index result:

PreviousLatest
JOLTS Job OpeningsBullish change7.508M7.74M
Average Hourly Earnings (MoM)Bearish change0.4%0.3%
Average Hourly Earnings (YoY)Bullish change3.9%4%
Labor Force Participation RateBearish change62.6%62.4%
Nonfarm PayrollsBullish change125K151K
U6 Underemployment RateBearish change7.5%8%
Unemployment RateBearish change4%4.1%
Initial Jobless ClaimsBullish change242K221K
Nonfarm ProductivityBullish change1.2%1.5%
Unit Labor CostsBearish change3%2.2%
Challenger Job CutsBullish change49.795K172.017K
Factory Orders (MoM)Bullish change-0.6%1.7%
ISM Services Employment IndexBullish change52.353.9
ISM Services New Orders IndexBullish change51.352.2
ISM Services PMIBullish change52.853.5
ISM Services Prices PaidBullish change60.462.6
S&P Global Composite PMIBullish change50.451.6
ADP Employment ChangeBearish change186K77K
ISM Manufacturing Employment IndexBearish change50.347.6
ISM Manufacturing New Orders IndexBearish change55.148.6
ISM Manufacturing PMIBearish change50.950.3
ISM Manufacturing Prices PaidBullish change54.962.4
Chicago Purchasing Managers' IndexBullish change39.545.5
Core Personal Consumption Expenditures - Price Index (MoM)Bullish change0.2%0.3%
Core Personal Consumption Expenditures - Price Index (YoY)Bearish change2.9%2.6%
Personal Consumption Expenditures - Price Index (MoM)(no change)0.3%0.3%
Personal Consumption Expenditures - Price Index (YoY)Bearish change2.6%2.5%
Personal Income (MoM)Bullish change0.4%0.9%
Personal SpendingBearish change0.8%-0.2%
Pending Home Sales (MoM)Bearish change-4.1%-4.6%
Core Personal Consumption Expenditures (QoQ)Bullish change2.5%2.7%
Durable Goods OrdersBullish change-1.8%3.1%
Durable Goods Orders ex DefenseBullish change-1.8%3.5%
Durable Goods Orders ex TransportationBearish change0.1%0%
Gross Domestic Product Annualized(no change)2.3%2.3%
Gross Domestic Product Price IndexBullish change2.2%2.4%
Initial Jobless ClaimsBearish change220K242K
Nondefense Capital Goods Orders ex AircraftBullish change0.4%0.8%
Personal Consumption Expenditures Prices (QoQ)Bullish change2.3%2.4%
New Home Sales Change (MoM)Bearish change8.1%-10.5%

About Employment Cost Index

Country:United States
Currency:USD
Source:US Bureau of Labor Statistics
Category:Labor Market
Frequency:Quarterly
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