Reader-Funded Data Journalism
Follow PPD Social Media
PPD Polls Conducted By
https://www.bigdatapoll.com/
Connect With PPD
Saturday, June 15, 2019
HomeNewsEconomyEmployment Cost Index for Q1 2019 Gains 0.7%, Meeting Consensus Forecast

Employment Cost Index for Q1 2019 Gains 0.7%, Meeting Consensus Forecast

A collage graphic concept for industry and labor. (Photo: AdobeStock)

Wages and Salaries Continue to Fuel Gain in ECI

A collage graphic concept for industry and labor. (Photo: AdobeStock)
A collage graphic concept for industry and labor. (Photo: AdobeStock)

The Labor Department said the Employment Cost Index rose 0.7% for the first quarter (Q1) 2019 and 2.8% year-over-year, meeting the consensus forecast.

Wages and salaries — representing roughly 70% of compensation costs — rose 0.7% and benefit costs, which make up the remaining 30% of compensation, also rose 0.7% from March 2018.

PriorConsensusForecast RangeActual
Employment Cost Index – Q/Q ∆0.7%0.7%0.6% — 0.9%0.7%
Employment Cost Index – Y/Y ∆2.9%2.9%2.8% — 3.2%2.8%

Wages and salaries gained 2.9% for the 12-month period ending in March 2019, up from 2.7% for the 12-month period ending in March 2018. Benefit costs increased 2.6% for the 12-month period ending in March 2019. In March 2018, the increase was also 2.6%.

For private industry workers only, compensation costs rose 2.8% over the year, matching the gain in March 2018. Wages and salaries rose 3.0% for the 12-month period ending in March 2019, up from an increase of 2.9% in March 2018.

The cost of benefits rose 2.4% for the 12-month period ending in March 2019 and increased 2.5% in March 2018.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.