- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
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|