The Employment Cost Index
The Employment Cost Index (ECI) is a quarterly measure of the rate of change in employers’ costs for both wages and benefits. For most of the 1980s and early 1990s, benefit costs rose faster than wages. In the mid-1990s, the trend reversed course, and wage increases dominated, but in 2000, benefit costs began to outpace wage growth once again.
Suggested citation: "The Employment Cost Index," Federal Reserve Bank of Cleveland, Economic Trends, no. 03-08, pp. 13, 08.01.2003.