Analysts at Nomura note that the US employment cost index (ECI) showed a 0.8% q-o-q increase for Q3, above expectations (Nomura: 0.5%, Consensus: 0.7%), consistent with steady wage pressure in a tight labor market. Key Quotes “Wages and salaries, accounting for roughly 70% of the index, increased 0.9% while benefit costs increased 0.4%. The pickup in wage pressure was relatively broad-based across occupational and industry groups. For private industry workers, wages increased 3.1% y-o-y in Q3, up from 2.9% in Q2.” “For Friday, we expect a 0.2% m-o-m increase in average hourly earnings (AHE). The sharp decline in AHE from last October will fall out of the 12-month calculation as base effects will likely help to increase the y-o-y rate to 3.1% from 2.8% in September. However, note that weather effects may distort the AHE reading for October due to the impact of Hurricanes Florence and Michael (inclement weather tends to disproportionately impact aggregate hours data).” “Over the medium term, we expect continued gradual upward pressure on wages as the unemployment rate falls further.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Employment cost index surged by 0.8% in Q3 – Nomura FX Street 4 years Analysts at Nomura note that the US employment cost index (ECI) showed a 0.8% q-o-q increase for Q3, above expectations (Nomura: 0.5%, Consensus: 0.7%), consistent with steady wage pressure in a tight labor market. Key Quotes "Wages and salaries, accounting for roughly 70% of the index, increased 0.9% while benefit costs increased 0.4%. The pickup in wage pressure was relatively broad-based across occupational and industry groups. For private industry workers, wages increased 3.1% y-o-y in Q3, up from 2.9% in Q2." "For Friday, we expect a 0.2% m-o-m increase in average hourly earnings (AHE). The sharp decline in AHE from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
