Introducing new weights for the Employment Cost Index. From: Monthly Labor Review | Date: June 1, 1985| Author: Schwenck, Albert E. | COPYRIGHT 1985 U.S. Bureau of Labor Statistics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Introducing new weights for the Employment Cost Index

The Employment Cost Index (ECI), an employment-weighted Laspeyres index, is a measure of change over time in the cost of employing a fixed set of labor inputs. The weights currently used are employment counts by industry and occupation from the 1970 Census of Population. The weights of most Laspeyres indexes are periodically updated, and the ECI is no exception. Beginning in June 1986, the ECI will be calculated usin...

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