Employment costs moderated at the end of 2022 back to levels that are still historically strong, according to the employment-cost index (ECI). Private and total workers saw compensation rise 1% in Q4 (seasonally adjusted), and 5.1% on the year. This followed a 1.2% increase for September quarter. Benefit costs increased 0.8% (versus 1.0% prior). Fed officials have said they pay close attention to the employment-cost index, seeing it as a comprehensive measure of wage growth. Wages and salaries account for … Continue reading “Employment Costs Moderate in Q4 as Fed Meets on Rates”