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 moderately bearish for USD. Other recent announcements which may affect the market's interpretation of the next Employment Cost Index result:

PreviousLatest
Durable Goods OrdersBearish change3.3%0.9%
Durable Goods Orders ex DefenseBearish change3.7%0.8%
Durable Goods Orders ex TransportationBullish change0.1%0.7%
Nondefense Capital Goods Orders ex AircraftBearish change0.9%-0.3%
New Home Sales Change (MoM)Bullish change-6.9%1.8%
Housing Price Index (MoM)Bearish change0.5%0.2%
S&P Global Composite PMIBullish change51.653.5
S&P Global Manufacturing PMIBearish change52.749.8
S&P Global Services PMIBullish change5154.3
Existing Home Sales Change (MoM)Bullish change-4.7%4.2%
Initial Jobless ClaimsBearish change220K223K
Philadelphia Fed Manufacturing SurveyBearish change18.112.5
Fed Interest Rate Decision(no change)4.5%4.5%
Interest Rate Projections - 1st yearBearish change3.9%3.4%
Interest Rate Projections - 2nd yearBearish change3.4%3.1%
Interest Rate Projections - CurrentBearish change4.4%3.9%
Interest Rate Projections - Longer(no change)3%3%
Industrial Production (MoM)Bullish change0.3%0.7%
Building Permits (MoM)Bearish change1.473M1.456M
Housing Starts (MoM)Bullish change1.35M1.501M
NY Empire State Manufacturing IndexBearish change5.7-20
Retail Sales (MoM)Bullish change-1.2%0.2%
Retail Sales Control GroupBullish change-1%1%
Retail Sales ex Autos (MoM)Bullish change-0.6%0.3%
Michigan Consumer Sentiment IndexBearish change64.757.9
UoM 5-year Consumer Inflation ExpectationBullish change3.5%3.9%
Initial Jobless ClaimsBullish change222K220K
Producer Price Index (MoM)Bearish change0.6%0%
Producer Price Index (YoY)Bearish change3.7%3.2%
Producer Price Index ex Food & Energy (MoM)Bearish change0.3%-0.1%
Producer Price Index ex Food & Energy (YoY)Bearish change3.6%3.4%
Monthly Budget StatementBearish change$-129B$-307B

About Employment Cost Index

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