(1) For a more detailed discussion of the Employment Cost Index
and its uses, see John W.
WASHINGTON -- Labor Department releases the second-quarter employment cost index
, 8:30 a.m.; Labor Department releases weekly jobless claims, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.
Compensation costs, as measured by the Employment Cost Index
(ECI), had been rising at a slower pace since early 2005, but since the first quarter of 2006, this slowdown reversed itself; during the entire course of 2006, the pace of ECI growth sped up.
gross domestic product data and the employment cost index
, both for the first quarter of this year, brokers said.
The surprising strength in the employment cost index
for wages and salaries in the first quarter raises the possibility that workers, willingness to surrender wage gains for job security may be lessening.
WASHINGTON -- Commerce Department releases first-quarter gross domestic product, 8:30 a.m.; Labor Department releases the first-quarter employment cost index
, 8:30 a.m.; Federal Reserve policymakers meet to set interest rates.
Another labor cost measure, the Employment Cost Index
(ECI), computes total compensation based on a fixed mixture of industries and occupations in order to distinguish labor cost growth from growth caused by shifts in industrial and occupational structure over time.
employment cost index
for the January-March period, ahead of the meeting of the Federal Open Market Committee on May 16.
The increase in total hourly compensation over the first three months of the year, as measured by the employment cost index
(ECI), was in line with its recent moderate trend.
WASHINGTON -- Labor Department releases the third-quarter employment cost index
, 8:30 a.m.
The Employment Cost Index
(ECI), which measures the changes in employers' wage, salary, and benefit costs, closed out 2006 showing moderate growth.
economic data will also be released later this week, including the employment cost index
on Thursday and a preliminary report on gross domestic product Friday, both for the fourth quarter of 1999.