Growth Rate Same Period Previous Year, Quarterly, Seasonally Adjusted
ULQEUL01O1Q659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.81
Year-over-Year Change
-14.26%
Date Range
1/1/1996 - 4/1/2017
Summary
This economic trend measures the year-over-year growth rate of the employment cost index, a key indicator of labor costs and inflationary pressures in the U.S. economy.
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 employment cost index (ECI) tracks changes in the total compensation costs faced by employers, including wages, salaries, and benefits. The year-over-year growth rate provides insights into the pace of compensation changes over time.
Methodology
The ECI is calculated by the U.S. Bureau of Labor Statistics based on quarterly surveys of private industry and state and local government employers.
Historical Context
The ECI growth rate is closely monitored by the Federal Reserve and other policymakers for its implications on inflation and interest rate policy.
Key Facts
- The ECI covers 80% of the U.S. civilian workforce.
- Compensation costs increased 5.1% year-over-year as of Q4 2022.
- The ECI is released quarterly, with a one-quarter lag.
FAQs
Q: What does this economic trend measure?
A: The ECI growth rate measures the year-over-year change in total employee compensation, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The ECI growth rate is a key indicator of labor market tightness and inflationary pressures, making it highly relevant for economic analysis and monetary policy decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics calculates the ECI based on quarterly surveys of private industry and state and local government employers.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor the ECI growth rate as an input for setting interest rates and assessing the state of the labor market and inflation.
Q: Are there update delays or limitations?
A: The ECI is released quarterly with a one-quarter lag, so the most recent data may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Quarterly, Seasonally Adjusted (ULQEUL01O1Q659S), retrieved from FRED.