Bureau of Labor Statistics - Employment Cost Index

The Employment Cost Index (ECI) measures the change in the hourly labor cost to employers over time. The ECI uses a fixed “basket” of labor to produce a pure cost change, free from the effects of workers moving between occupations and industries and includes both the cost of wages and salaries and the cost of benefits.<br><br>In the private sector, business owners and human resources professionals can use the ECI to make decisions about pay adjustments to help them stay competitive. In the public sector, the Federal Reserve and others use the ECI to gauge the health of the labor market, adjust contracts, and research the labor market.<br><br>There are two data schemas:<br><br>NAICS-SOC basis (2001-Present) - ciSIC-OCS basis (1979-2005) - ec<br><br>