Montana.Dept. of Labor And Industry.Research And Analysis Bureau
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Coming Soon: Want more information on specific ^industry clusters? Keep reading Montana Economy at a Glance for future articles about some of Montana's most prominent industry clusters. What is the Employment Cost Index? The ECI is a measure of the changes in labor costs, including non-cash benefits as well as wages and salaries. It is used as an early indicator of wage inflation, and is sometimes considered more reliable than the Average Hourly Earnings (AHE), because it measures wage increase...s in the same jobs over time, whereas the AHE can be influenced by an overall employment shift between high- and low-wage industries and occupations. The ECI measures a different aspect of inflation than does the Consumer Price Index (CPI), which tracks inflation in day-to-day living expenses. The ECI is calculated by the U.S. Bureau of Labor Statistics, and its numbers represent nationwide, rather than localized, trends. MONTANA ECONOMY AT A GLANCE - JULY 2004 Why is Labor Force Information Seasonally Adjusted?
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