Consumer Price Index: OECD Groups: Services Less Housing: Total for Czech Republic
Quarterly
CZECPGRLH01GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.89
Year-over-Year Change
17.07%
Date Range
4/1/1994 - 7/1/2023
Summary
The Quarterly Employer Costs for Employee Compensation (ECEC) index tracks changes in the total cost of compensation per employee hour worked in the United States. This key labor market indicator provides insights into wage and benefit trends.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Quarterly ECEC index measures the average cost to employers per employee hour worked, including wages, salaries, and benefits. It is a widely-used metric for analyzing labor market dynamics and a key input for policymakers and economists.
Methodology
The data is collected through surveys of private industry and state and local government employers by the U.S. Bureau of Labor Statistics.
Historical Context
The ECEC index is closely monitored by the Federal Reserve and other policymakers to gauge inflationary pressures and employment conditions.
Key Facts
- The ECEC index has increased by 4.5% over the past year.
- Benefits account for approximately 30% of total compensation costs.
- Wages and salaries make up the largest component of the ECEC index.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Employer Costs for Employee Compensation (ECEC) index tracks the average cost to employers per employee hour worked, including wages, salaries, and benefits.
Q: Why is this trend relevant for users or analysts?
A: The ECEC index is a key labor market indicator that provides insights into wage and benefit trends, which are closely monitored by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private industry and state and local government employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The ECEC index is closely monitored by the Federal Reserve and other policymakers to gauge inflationary pressures and employment conditions.
Q: Are there update delays or limitations?
A: The Quarterly ECEC data is published approximately 90 days after the end of each quarter.
Related Trends
Infra-Annual Labor Statistics: Working-Age Population Female: From 15 to 64 Years for Czechia
LFWA64FECZQ647N
Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Czech Republic
CZECPHP1100GPM
Production: Manufacturing: Total Manufacturing for Czech Republic
CZEPRMNTO01GYSAM
Business Tendency Surveys (Manufacturing): Confidence Indicators: Composite Indicators: National Indicator for Czech Republic
BSCICP02CZM460S
Harmonized Index of Consumer Prices: Maintenance and Repair of Personal Transport Equipment for Czech Republic
CP0723CZM086NEST
International Merchandise Trade Statistics: Exports: Commodities for Czechia
XTEXVA01CZA659S
Citation
U.S. Federal Reserve, Quarterly Employer Costs for Employee Compensation (CZECPGRLH01GPQ), retrieved from FRED.