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Crucial Employment Cost Index Growth Slows

Tyler Durden's picture
Submitted by Tyler Durden on 01/30/2015 09:37 -0400



 

The Employment Cost Index (ECI) has become the new black on economic fashion circles and this morning's data will likely disappoint some. While meeting expectations with a 0.6% QoQ rise, this is slower than the 0.7% QoQ growth in Q3 and what is more problematic is much of the rise was driven by  2.5% YoY rise in Natural Resources industries (which we suspect will absolutely not be there going forward given the layoffs and collapse of the Shale industry). Furthermore, the total cost of employment index was pushed higher YoY by the biggest YoY surge in "benefits" costs since March 2012.

 

 

Driven by not a surge in wages but a surge in "benefits" costs...

 

 

Charts: Bloomberg

 
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Fri, 01/30/2015 - 09:38 | 5724479 Barry Freed
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Bullish.

Fri, 01/30/2015 - 09:40 | 5724487 Spielbank
Spielbank's picture

Dont forget that lower oil prices are only good 4 all of us:)

Fri, 01/30/2015 - 09:38 | 5724489 NoIdea
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Agreed. GDP miss? Buy stocks

Fri, 01/30/2015 - 09:40 | 5724491 B2u
B2u's picture

Yes!  Just what we need!!!  WTF?

Fri, 01/30/2015 - 09:46 | 5724525 Carpenter1
Carpenter1's picture

Obamacare strikes again

Fri, 01/30/2015 - 09:45 | 5724528 timmeh
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GDP misses. BTFD.

Fri, 01/30/2015 - 09:47 | 5724532 timmeh
timmeh's picture

oh, wait, i'm short..

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