Quarterly
ULQBBC05NOQ189N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69,598,194,226.00
Year-over-Year Change
6.93%
Date Range
1/1/1978 - 4/1/2011
Summary
The Quarterly Employer Costs for Employee Compensation (ECEC) index measures the average cost per hour that employers incur for wages, salaries, and benefits. It provides insight into labor market trends and informs economic policymaking.
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 index tracks how much businesses pay per hour for employee compensation, including wages, salaries, and a wide range of benefits. It is a key economic indicator used by policymakers, analysts, and businesses to understand labor costs and workforce dynamics.
Methodology
The U.S. Bureau of Labor Statistics collects data through surveys of private industry and state and local government employers.
Historical Context
The ECEC index helps inform monetary and fiscal policy decisions that can impact employment, inflation, and overall economic conditions.
Key Facts
- The ECEC index is released quarterly by the U.S. Bureau of Labor Statistics.
- Employer-provided benefits account for over 30% of total compensation costs.
- The index is a key input for the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Employer Costs for Employee Compensation (ECEC) index measures the average cost per hour that employers incur for wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The ECEC index provides crucial insight into labor market dynamics and helps inform economic policymaking, including monetary and fiscal policy decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects the data through surveys of private industry and state and local government employers.
Q: How is this trend used in economic policy?
A: The ECEC index is a key input for the Federal Reserve's monetary policy decisions, as it reflects changes in labor costs that can impact inflation and employment.
Q: Are there update delays or limitations?
A: The ECEC index is released quarterly by the Bureau of Labor Statistics, with a typical 3-month delay in the data.
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Citation
U.S. Federal Reserve, Quarterly Employer Costs for Employee Compensation (ULQBBC05NOQ189N), retrieved from FRED.