Published: 2025-12-10T13:42:24.000Z
U.S. Q3 Employment Cost Index - Slightly slower but still above pre-pandemic trend
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The 0.8% increase in Q3’s Employment Cost index follows three straight gains of 0.9% so can be seen as a mild easing of inflationary pressures, though Q3 2024 also saw a rise of 0.8%.
Both wages and salaries and benefits rose by 0.8% in Q3, the former a slowing from 1.0% in Q2 but the latter slightly firmer than Q2’s 0.7%.
Yr/yr growth slowed to 3.5% from 3.6% with both wages and salaries and benefits at 3.5%. This is the slowest yr/yr pace since Q2 2021 but remains above the pre-pandemic trend that was running a little below 3.0%.
