Quarterly
PIEAEN01CAQ661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.92
Year-over-Year Change
-12.31%
Date Range
1/1/2002 - 1/1/2009
Summary
The Quarterly Employer Costs for Employee Compensation (ECEC) measures the average cost per employee hour worked for total employee compensation in the United States. This key economic indicator provides insights into labor market trends and productivity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The ECEC tracks the average cost of wages, salaries, and employer-provided benefits for private industry and state and local government workers. Economists and policymakers use this data to analyze labor market conditions, wage growth, and the relative costs of compensation.
Methodology
The Bureau of Labor Statistics collects this data through quarterly surveys of private businesses and government employers.
Historical Context
The ECEC is a critical input for monitoring inflation, assessing the competitiveness of U.S. labor markets, and informing economic policymaking.
Key Facts
- Measures average hourly employer costs for wages, salaries, and benefits.
- Provides insights into labor market trends and productivity.
- Critical data point for monitoring inflation and economic policymaking.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Employer Costs for Employee Compensation (ECEC) measures the average cost per employee hour worked for total employee compensation in the United States.
Q: Why is this trend relevant for users or analysts?
A: The ECEC provides valuable insights into labor market conditions, wage growth, and the relative costs of compensation, which are critical inputs for monitoring inflation, assessing labor market competitiveness, and informing economic policymaking.
Q: How is this data collected or calculated?
A: The Bureau of Labor Statistics collects this data through quarterly surveys of private businesses and government employers.
Q: How is this trend used in economic policy?
A: The ECEC is a key economic indicator that is used by economists, policymakers, and market analysts to monitor labor market conditions, wage growth, and inflation, which informs policy decisions and market assessments.
Q: Are there update delays or limitations?
A: The ECEC data is released quarterly by the Bureau of Labor Statistics, with a typical delay of about one month after the end of the reference quarter.
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Citation
U.S. Federal Reserve, Quarterly Employer Costs for Employee Compensation (PIEAEN01CAQ661N), retrieved from FRED.