Employment Cost

Manufacturing Improving but Flat. Employment Cost Contained.

Mortgage Applications data for last week is not available.  Data for this week will have little meaning because of the storm. Employment Cost Index (3rdQ2012) ECI – Quarter/Quarter change 0.4%. Previous was +0.5% ECI – Year/Year change +2.0%. Previous was +1.7%. Looking at the components of Employment Cost: Year/Year wages and  salaries are up 1.7%