US: Employment Cost Index edges lower to 1.3% in Q2 vs. 1.2% expected

US Employment Cost Index rose 1.3% in the second quarter.
US Dollar Index stays in positive territory above 106.00.

Eren Sengezer FXStreet

The US Bureau of Labor Statistics (BLS) reported on Friday that the Employment Cost Index was up 1.3% in the second quarter, down from 1.4% in the first quarter but slightly higher than the market expectation of 1.2%.

"Wages and salaries increased 5.3% for the 12-month period ending in June 2022 and increased 3.2% for the 12-month period ending in June 2021," the BLS' publication further read.

Market reaction

The dollar stays resilient against its rivals after this data with the US Dollar Index clinging to modest daily gains at 106.30.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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