US Q2 Employment Cost Index +0.9% vs +0.8% expected

Prior was +0.9% Wages q/q +0.9% vs +0.8% prior Benefits q/q +1.0% vs +1.2% prior The U.S. Employment Cost Index showed labor costs continued to rise at a steady pace in the second quarter of 2026. For all civilian workers, total compensation increased 0.9% in the three months through June, matching gains in both wages and salaries (0.9%) while…

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USD moves higher as employee benefits rise and so do yields.

The US employment cost data rose by a solid 0.9% for the 2nd quarter in a row. In a world of rising inflation, having wages and benefits advance with inflation is the only hope for consumers. Absent that and the consumer falls further and further behind. The good news is that wages increase size you 20% last quarter and…

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