Employment Cost Index
What is an Employment Cost Index?
How Does an Employment Cost Index Work?
Although overshadowed in the press by the more widely watched CPI, the ECI provides an early indicator of inflation. It is compiled based on payroll reports from the last month in each quarter and covers numerous industries and worker classifications, as well as a break-down of union and non-union wages. The ECI collects samples from across all these industries and categories, and reports on the changes from the previous quarter to highlight developing trends.