Skip to Main Content
University of Texas University of Texas Libraries

ECO 350K Macroeconomics of Labor Market

Employment Cost Index (ECI)

What is ECI?

 

The Employment Cost Index (ECI) measures the change in the hourly labor cost to employers over time. The ECI uses a fixed "basket" of labor to produce a pure cost change, free from the effects of workers moving between occupations and industries and includes both the cost of wages and salaries and the cost of benefits.

Source: U.S. Bureau of Labor Statistics

Articles

Allamani, J., Aysheshim, K., & Righter, L. (2022). The Linked Employment Cost Index: a first look and estimation methodology. Monthly Labor Review, 1–13. https://doi.org/10.21916/mlr.2022.32 

Baghestani, H., & AbuAl-Foul, B. (2010). Factors influencing federal reserve forecasts of inflation. Journal of Economic Studies, 37(2), 196-207. https://doi.org/10.1108/01443581011043582 

Breitenbach, M. C., Chisadza, C., & Clance, M. (2022). The Economic Complexity Index (ECI) and output volatility: High vs. low income countries. Journal of International Trade & Economic Development31(4), 566–580. https://ezproxy.lib.utexas.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=156316501&site=ehost-live 

Domash, A., & Summers, L. H. (2022). How tight are U.S. labor markets?. Cambridge: National Bureau of Economic Research, Inc.  https://doi.org/10.3386/w29739 

Küfner, B., Sakshaug, J. W., & Zins, S. (2022). Establishment survey participation during the COVID-19 pandemic. Journal for Labour Market Research, 56(1) doi:https://doi.org/10.1186/s12651-022-00321-8 https://doi.org/10.1186/s12651-022-00321-8

 Martin, F. M., Sánchez, J.,M., & Wilkinson, O. (2023). The economic impact of COVID-19 around the world. Review - Federal Reserve Bank of St.Louis, 105(2), 74-88. https://doi.org/10.20955/r.105.74-88 

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 Generic License.