U.S. Employment Cost Index Rises 0.8% in Q3, Slowing From Q2

The U.S. Employment Cost Index rose 0.8% in the third quarter, slowing from Q2 while matching expectations as the quarterly pace of compensation cost growth eased.

The increase was 0.1 percentage point below the 0.9% gain in Q2. The third-quarter result matched the 0.8% consensus. The index measures employee compensation costs, including wages, salaries and benefits.

Compensation costs for civilian workers increased 3.4% year over year in Q3, on a not seasonally adjusted basis. That figure compares costs with a year earlier, while the 0.8% index reading compares Q3 with Q2.

The index had been scheduled for 8:30 a.m. ET (12:30 UTC) Friday, Oct. 30, in TokenPost’s preview of Friday’s U.S. data releases.