U.S. Employment Cost Index Growth Decelerates in Third Quarter
The Bureau of Labor Statistics reported that the Employment Cost Index (ECI) grew by 0.8% in the third quarter, aligning with market consensus. This represents a slight deceleration from the 0.9% growth recorded during the second quarter. Breaking down the components, wages and salaries increased by 0.7% quarter-over-quarter, down from 0.9% in Q2. Meanwhile, benefit costs saw a marginal slowdown, rising 0.9% compared to the previous quarter's 1.0% increase.
Topics: Bureau of Labor Statistics Employment Cost Index U.S. Economy Wages and Salaries