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Employment Cost Index: Q4 2024
The Employment Cost Index for total compensation was up 0.9% QoQ and 3.8% YoY in Q4 2024, in line with expectations of a 0.9% QoQ increase. Private sector compensation was up just 0.8% QoQ and 3.6% YoY (unchanged from 3.6% YoY previously) with wages and salaries growing 0.9% QoQ and 3.7% YoY, a slight deceleration from 3.8% YoY in Q3 2024.
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