Employment Cost Index--September 1995 — 1995-10-31

The Employment Cost Index (ECI) increased 0.8 percent before seasonal adjustment in the 3 months ended in September 1995, the U.S. Department of Labor's Bureau of Labor Statistics reported today. The September 1995 ECI level of 126.6 (June 1989=100) was 2.7 percent higher than the index in September 1994. The ECI measures changes in compensation costs, including wages, salaries, and employer costs for employee benefits. On a seasonally adjusted basis, the ECI rose 0.6 percent in the June-September 1995 period, compared with a 0.7 percent gain in the March-June 1995 period. This matches the December 1994-March 1995 period for the smallest compensation cost increase since the series began in 1982. Wage and salary gains, 0.7 percent in June-September 1995, have stayed within a relatively narrow range over the past 3 years. Benefit costs rose 0.4 percent in June-September 1995, down from the 0.7 percent increase for the March-June 1995 period. Table A.