Employment Cost Index
a.k.a. ECI
A quarterly US measure of how much employers' costs for wages and benefits are rising.
In plain English
A quarterly US measure of how much employers' costs for wages and benefits are rising.
The Employment Cost Index (ECI), from the US Bureau of Labor Statistics, tracks the cost of employing people, including benefits, while adjusting for shifts in the mix of jobs.
Central bankers like it because it gives a cleaner read on wage pressure, a key ingredient of lasting inflation.
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