Definition
A quarterly measure of what employers pay for their workers, including wages and benefits.
The story
Average hourly earnings can jump just because more high-paid workers kept their jobs during layoffs. The ECI avoids that by tracking the cost of the same kinds of jobs over time, so it shows whether pay itself is rising.
Why markets watch it
It's often seen as a cleaner read on wage pressure.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms