Thomson Reuters
Protesters rally during demonstrations asking for higher wages in the Manhattan borough of New York
The employment cost index rose as expected in the fourth quarter, with wages increasing 0.6%.
Expectations were for the latest employment cost index to show an 0.6% in costs during the fourth quarter.
The ECI report is a more comprehensive measure of wage growth than the average hourly earnings figure released with the monthly jobs report as it takes into account benefits in addition to wages and salaries.
More to come...