Administration February 4, 2003
Employment Cost Index in Line with Expectations
April 26, 2001 (PLANSPONSOR.com) - The Employment
Cost Index (ECI), which measures changes in compensation,
including wages, salaries and benefit costs, increased by
4.1% in the year ending March 2001, compared to a 4.3% gain
in the previous year.
Reported by Camilla Klein
- The number, released quarterly, shows a 1.1% increase in the first quarter of the year, in line with market expectations, reflecting both a both higher wage gains and benefit costs
- The ECI, the broadest measure of labor costs, was higher than the 0.9% increase reported in the closing quarter of 2000, but no great cause for concern.
Broken down, the quarter’s numbers show that:
- Wages and salaries rose 1%, compared to a 0.8% gain in the previous quarter
- While benefit cost rose 1.3% compared to the 1% gain in the fourth quarter of 2000.