The monthly HPW Index rose slightly to 0.15 in June from a revised value of 0.09 in May, driven by a modest increase in the quits rate from 2.19 percent to 2.25 percent.

• The monthly index is consistent with a pace of ECI wage growth of .78 percent and annual wage growth of 3.15 percent, close to the pace of ECI growth in 2026:Q2 and over the past year.
• The quarterly index also showed an uptick, rising from –0.05 to 0.06, driven by recent modest increases in vacancies per effective searcher from Q1 to Q2.