Released October 30, the U.S. Bureau of Labor Statistics' 12-month Employment Cost Index (ECI) held constant at 2.0 for a second consecutive quarter.
"The 12-month growth rate of U.S. compensation costs appears to be flat-lining again in the tight band around 2.0 that has prevailed for four years," says Linda Barrington, Executive Director of Cornell's Institute for Compensation Studies in the ILR School. "ECI has broken above 2.0 in only four of the past twenty-six quarters," she added.
The Employment Cost Index (ECI) released October 30, 2015 by the U.S. Bureau of Labor Statistics reflects trends in the costs to employers for the wages and benefits they provide to their workers. The ECI is one of the labor market indicators used by the Federal Reserve Board to monitor the effects of fiscal and monetary policies and is released quarterly.
To read the full ICS Commentary, download ECI 2015 Q3 Commentary (PDF, 351 KB).