Employment Cost Index-December 1998 — 1999-01-28

The Employment Cost Index (ECI), not seasonally adjusted, for December 1998 was 139.8 (June 1989=100), an increase of 3.4 percent from December 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 0.7 percent during the September-December 1998 period, following a gain of 1.0 percent in September 1998. Wages and salaries also increased 0.7 percent during the September-December 1998 period. The increase was 1.2 percent in the June-September 1998 period. Benefit costs increased 0.6 percent in the September-December 1998 period; for each of the two previous quarters, the increase was 0.8 percent. Table A. 3-month percent changes in Employment Cost Index, seasonally adjusted Mar. June Sep. Dec. Mar. June Sep. Dec.