Employment Cost Index

The Employment Cost Index (ECI), released by US Bureau of Labour Statistics, is a quarterly measure of the change in the price of labor, defined as compensation per employee hour worked. Closely watched by many economists, the ECI is an indicator of cost pressures within companies that could lead to price inflation for finished goods and services. The index measures changes in the cost of compensation not only for wages and salaries, but also for an extensive list of benefits.

Most recent - Tuesday 10 February 2026 13:30

Previous
0.8%
Revised
-
Forecast
0.8%
Actual
0.7%

Lower numbers than forecast tend to be bullish for xxx/USD pairs and bearish for USD/xxx pairs.

Trading range

Forecast history

The most recent announced value for Employment Cost Index was 0.7% against a forecast of 0.8%.

Past events

Date
Forecast
Actual
Tuesday 10 February 2026 13:30
0.8%
0.7%
Wednesday 10 December 2025 13:30
0.9%
0.8%
Friday 31 October 2025 12:30
0.9%
-
Thursday 31 July 2025 12:30
0.8%
0.9%
Wednesday 30 April 2025 12:30
0.9%
0.9%
Friday 31 January 2025 13:30
0.9%
0.9%
Thursday 31 October 2024 12:30
0.9%
0.8%
Wednesday 31 July 2024 12:30
1%
0.9%
Tuesday 30 April 2024 12:30
1%
1.2%
Wednesday 31 January 2024 13:30
1%
0.9%
Tuesday 31 October 2023 12:30
1%
1.1%
Friday 28 July 2023 12:30
1.1%
1%
Friday 28 April 2023 12:30
1.1%
1.2%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Employment Cost Index result:

PreviousLatest
ISM Manufacturing Employment IndexBearish change48.848.7
ISM Manufacturing New Orders IndexBearish change55.853.5
ISM Manufacturing PMIBullish change52.452.7
ISM Manufacturing Prices PaidBullish change70.578.3
Retail Sales (MoM)Bullish change-0.1%0.6%
Retail Sales Control GroupBullish change0.2%0.5%
Retail Sales ex Autos (MoM)Bullish change0%0.5%
ADP Employment ChangeBearish change66K62K
JOLTS Job OpeningsBearish change7.24M6.882M
Chicago PMIBearish change57.752.8
Housing Price Index (MoM)Bearish change0.3%0.1%
Michigan Consumer Expectations IndexBearish change54.151.7
Michigan Consumer Sentiment IndexBearish change55.553.3
UoM 1-year Consumer Inflation ExpectationsBullish change3.4%3.8%
UoM 5-year Consumer Inflation Expectation(no change)3.2%3.2%
Initial Jobless ClaimsBearish change205K210K
S&P Global Composite PMIBearish change51.951.4
S&P Global Manufacturing PMIBullish change51.652.4
S&P Global Services PMIBearish change51.751.1
Nonfarm ProductivityBearish change2.8%1.8%
Unit Labor CostsBullish change2.8%4.4%
ADP Employment Change 4-week averageBullish change9K10K
New Home Sales Change (MoM)Bearish change-6.8%-17.6%
Initial Jobless ClaimsBullish change213K205K
Philadelphia Fed Manufacturing SurveyBullish change16.318.1

About Employment Cost Index

Country:United States
Currency:USD
Source:US Bureau of Labor Statistics
Category:Labor Market
Frequency:Quarterly
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