Employment Cost Index rises by 0.7% in Q2 vs. 0.9% expected

  • Employment Cost Index in US rose less than expected in Q2.
  • US Dollar Index continues to fluctuate below 92.00. 

Compensation costs for civilian workers, the Employment Cost Index, increased 0.7% in the second quarter, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in lower than the market expectation of 0.9%.

“Compensation costs for civilian workers increased 2.9% for the 12-month period ending in June 2021 and increased 2.7% in June 2020,” the publication further read. “Wages and salaries increased 3.2% for the 12-month period ending in June 2021.”

Market reaction

This report doesn’t seem to be having a noticeable impact on the USD’s performance against its major rivals. As of writing, the US Dollar Index was posting small daily gains at 91.93.

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