Employment Cost Index -- September 1994 — 1994-10-25

The Employment Cost Index (ECI) increased 1.0 percent before seasonal adjustment in the 3 months ended in September 1994, the U.S. Department of Labor's Bureau of Labor Statistics reported today. The September 1994 ECI level of 123.3 (June 1989=100) was 3.2 percent higher than the index in September 1993. The ECI measures changes in compensation costs, including wages, salaries, and employer costs for employee benefits. On a seasonally adjusted basis, the ECI rose 0.7 percent in the June- September 1994 quarter, compared with a 0.9 percent gain in the March-June 1994 quarter. Compensation cost increases have been in the 0.7-1.0 percent range since September 1991. Wage and salary gains, 0.7 percent in June-September 1994, also have varied within a relatively small range over the past 3 years. Benefit costs rose 1.0 percent in June-September 1994, in line with increases in the past year but below those in the preceding 6 years.