- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller January 29, 2016
The employment cost index for civilian workers increased 0.6% (2.0% y/y) during Q4'15, as expected in the Action Economics Forecast Survey. Wages increased 0.6% (2.1% y/y) for a second month and benefits rose 0.7% (1.8% y/y).
The employment cost index for private industry workers improved 0.5% in Q4'15 (1.9% y/y), following an unrevised 0.6% rise during Q3. The index for the professional & business services sector posted a 0.6% gain (1.8% y/y) and that followed a 1.0% rise. Trade, transportation & utility workers compensation ticked 0.1% higher (2.0% y/y) following a 1.0% jump. Information sector compensation rose 0.2% (-1.8% y/y) after a 0.7% rise. Education & health services workers realized 0.5% growth (1.7% y/y) after a 0.5% increase. Factory workers compensation rose an accelerated 0.7% (2.5% y/y) and construction workers saw 0.7% growth (2.2% y/y), the quickest since 2009. In the public sector, state & local government workers compensation rose 0.8% (2.5% y/y), the firmest rise in over seven years.
Wages in private industry rose 0.6% (2.1% y/y) following a 0.7% increase. Workers in professional & business services realized 0.6% wage growth (2.0% y/y) and that followed a 1.2% increase. Trade, transportation & utility wages ticked 0.1% higher (2.0% y/y) after a 1.1% jump. Information sector wages rose 0.3% (2.1% y/y), half the 0.6% growth during the of the prior four quarters. Wages in leisure & hospitality recovered 0.7% (1.9% y/y) following 0.3% decline. Factory sector wages grew a fairly steady 0.7% (2.7% y/y) but construction wages advanced an improved 0.8% (2.6% y/y). Wages for state & local government workers improved 0.4% (1.8% y/y) after a 0.3% gain.
Benefits of private industry workers grew 0.4% (1.2% y/y) following a 0.5% increase. Sales & office workers realized steady 0.6% growth (1.4% y/y). Workers in service occupations saw a 0.4% increase (1.7% y/y) and management & professional workers saw improved 0.6% growth (0.9% y/y). Factory sector workers benefits jumped 0.8% (2.3% y/y) after a 0.1% uptick. State & local government workers benefits jumped 1.4% (3.5% y/y), the y/y gain roughly the same as in the prior five years. These increases were down, however, versus the 6.0% growth of the prior decade.
The employment cost index figures are available in Haver's USECON database. Consensus estimates come from the Action Economics survey, carried in Haver's AS1REPNA database.
|Private Industry Workers (%)||Q4'15||Q3'15||Q2'15||Y/Y||2015||2014||2013|
|Wages & Salaries||0.6||0.7||0.2||2.1||2.2||2.0||1.9|