Employment Cost Index-September 1998 — 1998-10-29

The Employment Cost Index (ECI), not seasonally adjusted, for September 1998 was 139.0 (June 1989=100), an increase of 3.7 percent from September 1997, the U.S. Department of Labor's Bureau of Labor Statistics reported today. The ECI measures changes in compensation costs, which include wages, salaries, and employer costs for employee benefits. On a seasonally adjusted basis, compensation costs for civilian workers (private industry plus state and local government) rose 1.0 percent during the June-September 1998 period, following a gain of 0.9 percent in June 1998. Since September 1991, three-month increases in compensation costs have ranged from 0.6 percent to 1.0 percent. Wages and salaries increased 1.2 percent during the June-September 1998 period. The increase was 0.9 percent in the March-June 1998 period. Benefit costs increased 0.8 percent in the June-September 1998 period, the same as reported in the March-June 1998 quarter. Table A. 3-month percent changes in Employment Cost Index, seasonally adjusted Dec. Mar. June Sep. Dec. Mar. June Sep.