US EMPLOYMENT COST INDEX RISES 0.9% IN Q4 VS. 1% EXPECTED
- Employment Cost Index rose less than forecast in Q4.
- US Dollar Index stays in the red slightly below 103.50 after the data.
Compensation costs for civilian workers, the Employment Cost Index, rose 0.9% in the fourth quarter of 2023, the US Bureau of Labor Statistics reported on Wednesday. This reading followed the 1.1% increase recorded in the previous quarter and came in below the market expectation of 1%.
"Compensation costs for civilian workers increased 4.2% for the 12-month period ending in December 2023 and increased 5.1% in December 2022," the BLS noted in its press release. "Wages and salaries increased 4.3% for the 12-month period ending in December 2023 and increased 5.1% for the 12-month period ending in December 2022
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