Economic Impact Group, LLC Economic Data Brief
 
Labor market

Employment Cost Index — Q3 2026

Released October 30, 2026 · Bureau of Labor Statistics · full release · charts & history on EconomicsGuru
Total compensation, all civilian workers rose 0.8% in Q3 2026 to 178.6, +3.4% from a year ago. Prior quarter: 177.2.
Total comp
178.6
▲ +0.8% m/m
· +3.4% y/y
Wages
180.4
▲ +0.8% m/m
· +3.1% y/y
Benefits
172.2
▲ +0.9% m/m
· +3.9% y/y

Revision check

Revision check clear. Prior periods were checked against the values in the last report — no revisions found. All changes below are computed on current-vintage data.

Key figures

Headline →Q3 2026Q2 2026M/M chgM/M %Y/Y chgY/Y %12-period trend
Total compensation, all civilian workers
Dec 2005=100, SA — the Fed's cleanest read on labour costs. A fixed-weight index: it holds the mix of jobs constant, which is why it beats average hourly earnings as a wage signal.
178.6177.2▲ +1.4▲ +0.8%▲ +5.8▲ +3.4%
 
 
 
 
 
 
 
 
 
 
 
 
 
Wages and salaries, private industry180.4179.0▲ +1.4▲ +0.8%▲ +5.5▲ +3.1%
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefits, private industry172.2170.6▲ +1.6▲ +0.9%▲ +6.5▲ +3.9%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trend bars show year-over-year % change over the last 13 periods; the latest period is highlighted.

What stood out

  • Wages and salaries, private industry: up 3.1% from a year ago — the slowest pace since Q1 2021.
  • Total compensation, all civilian workers: up 3.4% from a year ago — the slowest pace since Q2 2021.
  • Benefits, private industry: up 3.9% from a year ago — the fastest pace since Q2 2023.

Full detail

Show every category and subcategory
Full detail →Q3 2026Q2 2026M/M chgM/M %Y/Y chgY/Y %
Total compensation, state and local government
Dec 2005=100, SA — public payrolls move on budgets and bargaining cycles, not the business cycle, so they turn later than private pay
181.4180.2▲ +1.1▲ +0.6%▲ +6.1▲ +3.5%

Sources

Economic Impact Group, LLC
Economic research for developing communities
Prepared 2026-10-30 13:28 UTC. Green marks an increase, red a decrease — direction only, not good or bad.