Measures the change in the cost of labor for wages and salaries, excluding benefits, for civil workers. It is a key component of the Employment Cost Index (ECI) and serves as a primary gauge of wage inflation. The Federal Reserve closely monitors this data to assess inflationary pressures within the labor market.
Calculated by the Bureau of Labor Statistics using a survey of employer payrolls. It tracks changes in the hourly cost of labor for a fixed basket of jobs, adjusted for shifts in employment between industries and occupations.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Jul 31, 2026 | 0.90 | 0.70 | +0.20 |
| Apr 30, 2026 | 0.80 | 0.50 | +0.30 |
| Feb 10, 2026 | 0.70 | 0.80 | -0.10 |
| Dec 10, 2025 | 0.80 | 0.80 | 0.00 |
| Jul 31, 2025 | 1.00 | 0.80 | +0.20 |
| Apr 30, 2025 | 0.80 | 0.80 | 0.00 |
| Jan 31, 2025 | 0.90 | 0.70 | +0.20 |
| Oct 31, 2024 | 0.80 | 0.70 | +0.10 |
| Jul 31, 2024 | 0.90 | 1.00 | -0.10 |
| Apr 30, 2024 | 1.10 | 0.90 | +0.20 |
| Jan 31, 2024 | 0.90 | 1.10 | -0.20 |
| Oct 31, 2023 | 1.20 | 0.80 | +0.40 |
| Jul 28, 2023 | 1.00 | 1.10 | -0.10 |
| Apr 28, 2023 | 1.20 | 0.90 | +0.30 |
| Jan 31, 2023 | 1.00 | 1.00 | 0.00 |
| Oct 28, 2022 | 1.30 | 1.50 | -0.20 |
| Jul 29, 2022 | 1.40 | 1.10 | +0.30 |
| Apr 29, 2022 | 1.20 | 1.40 | -0.20 |
| Jan 28, 2022 | 1.10 | 1.70 | -0.60 |
| Oct 29, 2021 | 1.50 | — | — |
