The Employment Cost Index (ECI) measures the change in the cost of labor, free from the influence of employment shifts among occupations and industries. The Employment Cost Index is based on figures from December 2005. In the third quarter of 2024, the ECI came to 166.8, indicating an increase of labor costs of 0.9 percent.

Graph and download economic data for Employment Cost Index: Wages and Salaries: Private Industry Workers (ECIWAG) from Q1 2001 to Q4 2024 about cost, ECI, salaries, workers, private industries, wages, private, employment, industry, inflation, indexes, and USA.

Manufacturing sector unit labor costs in the United States increased by 5.3 percent in the third quarter of 2024. The data are seasonally adjusted at annual rates. Unit labor costs describe the relationship between compensation per hour and productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers. Increases in hourly compensation increase unit labor costs; labor productivity increases offset compensation increases and lower unit labor costs.

Labour Costs in Mexico increased to 206.90 points in December from 140.10 points in November of 2024. This dataset provides - Mexico Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news.

According to the forecasts of the staff of the Eurosystem - the group of central banks of countries which use the Euro as their currency - the rate of increase in unit labor costs (the labor cost at which one unit of production is produced) will decrease considerably over the coming years, declining from a rate of 6.1 percent in 2023, to 4.1 percent in 2024 and 2.6 percent in 2025. This decrease in unit labor costs is set to be driven by a slowing in the growth of compensation per employee, which will decline from 5.3 percent in 2023 to 4.6 percent in 2024, coupled with an increase in labor productivity, the total output per person employed.

Employment Cost Index in the United States increased to 0.90 percent in the fourth quarter of 2024 from 0.80 percent in the third quarter of 2024. This dataset provides - United States Employment Cost Index- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The minimum wage per day guaranteed by law in Mexico was decreed to increase by approximately 12 percent between 2024 and 2025, reaching 278.8 Mexican pesos in 2025. The Northern Free Zone located near the northern border was the exception, where the minimum daily wage increased to 419.88 Mexican pesos. Education and income disparity The income distribution is entirely a new story than minimum wages, in fact, there are many factors that influence the level of salaries for Mexican workers. One of the main differences is by the number of schooling years, someone with more than 18 years of study earns on average double than employees with seven to nine years. Moreover, the area of study, while statistics and finance mean salaries, the highest wages by degree, are above 30,000 Mexican pesos per month, others such as performing arts and theology rank as the lowest paying degrees in Mexico.
Poverty still among the main problems
Despite one of the main reasons for minimum wage increases being moving people out from poverty conditions, poverty continues to be one of the main problems Mexican society faces. The number of people living under poverty conditions has decreased by 8.54 million inhabitants from 2014 to 2022, nonetheless, the figure is still higher than 46.5 million. The poverty rate varies among states, with Chiapas leading the ranking with 67.4 percent of the population under such conditions, while both Baja California and Baja California Sur recorded less than 14 percent.

Labor cost index in Greece, December, 2024 The most recent value is 131.3 index points as of Q4 2024, an increase compared to the previous value of 125.6 index points. Historically, the average for Greece from Q1 2000 to Q4 2024 is 100.92 index points. The minimum of 78.7 index points was recorded in Q1 2000, while the maximum of 131.3 index points was reached in Q4 2024. | TheGlobalEconomy.com

Graph and download economic data for Employment Cost Index: Wages and salaries for Private industry workers in Transportation and warehousing (CIS2024300000000I) from Q1 2003 to Q4 2024 about ECI, warehousing, salaries, workers, transportation, private industries, wages, private, industry, and USA.

Labor cost index in Georgia, December, 2024 The most recent value is 278.77 index points as of Q4 2024, an increase compared to the previous value of 258.55 index points. Historically, the average for Georgia from Q1 2014 to Q4 2024 is 162.91 index points. The minimum of 100 index points was recorded in Q1 2014, while the maximum of 278.77 index points was reached in Q4 2024. | TheGlobalEconomy.com

Labor cost index in Germany, December, 2024 The most recent value is 118.7 index points as of Q4 2024, an increase compared to the previous value of 118.2 index points. Historically, the average for Germany from Q1 1997 to Q4 2024 is 82.17 index points. The minimum of 60.3 index points was recorded in Q2 1997, while the maximum of 118.7 index points was reached in Q4 2024. | TheGlobalEconomy.com

Graph and download economic data for Nonfarm Business Sector: Unit Labor Costs for All Workers (ULCNFB) from Q1 1947 to Q4 2024 about unit labor cost, headline figure, sector, nonfarm, business, and USA.

Labor cost index in France, December, 2024 The most recent value is 113.2 index points as of Q4 2024, an increase compared to the previous value of 112.5 index points. Historically, the average for France from Q1 1998 to Q4 2024 is 85.14 index points. The minimum of 59 index points was recorded in Q1 1998, while the maximum of 113.2 index points was reached in Q4 2024. | TheGlobalEconomy.com

Labor costs in Portugal increased by 4.2 percent in 2022 compared to the previous year. In 2023, labor cost index (LCI) increased by six percent, and, in 2024, by almost seven percent. Industry was the economic activity with the highest LCI in the same year.

Labour Costs in China decreased to 58.80 points in February from 59.70 points in January of 2025. This dataset provides - China Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United States - Employment Cost Index: Wages and salaries for Private industry workers in Installation, maintenance, and repair was 170.70000 Index: Dec 2005=100 in October of 2024, according to the United States Federal Reserve. Historically, United States - Employment Cost Index: Wages and salaries for Private industry workers in Installation, maintenance, and repair reached a record high of 170.70000 in October of 2024 and a record low of 90.50000 in January of 2002. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Employment Cost Index: Wages and salaries for Private industry workers in Installation, maintenance, and repair - last updated from the United States Federal Reserve on March of 2025.

In the United States, nonfarm business sector unit labor costs increased by 1.9 percent in the third quarter of 2024 compared to the previous quarter. The data are seasonally adjusted at annual rates. Unit labor costs describe the relationship between compensation per hour and productivity, or real output per hour, and can be used as an indicator of inflationary pressure on producers. Increases in hourly compensation increase unit labor costs; labor productivity increases offset compensation increases and lower unit labor costs.

Labor cost index in the Netherlands, December, 2024 The most recent value is 122.9 index points as of Q4 2024, an increase compared to the previous value of 121.3 index points. Historically, the average for the Netherlands from Q1 1999 to Q4 2024 is 85.36 index points. The minimum of 58.5 index points was recorded in Q1 1999, while the maximum of 122.9 index points was reached in Q4 2024. | TheGlobalEconomy.com

Labour Costs In the Euro Area decreased to 112.10 points in the third quarter of 2024 from 119.40 points in the second quarter of 2024. This dataset provides the latest reported value for - Euro Area Labour Costs - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Employment Cost Index: Wages and salaries for Private industry workers in Manufacturing; production, transportation, and material moving (CIU2023000500000I) from Q1 2001 to Q4 2024 about ECI, materials, salaries, workers, transportation, private industries, wages, production, private, manufacturing, industry, and USA.