Employment Cost Index
Employment Cost Index for Q2 2026 is scheduled for release at 08:30 EDT on 31 July 2026.
What it measures
The change in the cost of labour — wages, salaries and benefits — free of the effect of employment shifting between occupations and industries. The Federal Reserve treats it as a cleaner read on labour costs than average hourly earnings.
Times shown in America/New York · Schedule source: BLS release schedule · Licence: public domain (a work of the U.S. federal government)
Impact on the Treasury curve
Low -0.35 bp from the 10-year level
On this indicator’s past release days the Treasury curve moved that much more than it did on a quiet day — a day on which none of the tracked indicators released — across 26 clean release days , with 88 excluded because another tracked release landed the same day. It is a backward-looking measure of what already happened. It is not a forecast of the next release, and it is not advice. Read the full methodology.
Upcoming releases
| Date | Time (America/New York) | Reference period | Calendar |
|---|---|---|---|
| 08:30 EDT | Q2 2026 | .ics | |
| 08:30 EDT | Q3 2026 | .ics |
Past releases
The dates the agency actually published on, newest first. These are release days, not the reference periods the figures describe.
| Release date | Time (America/New York) | Reference period |
|---|---|---|
| 08:30 EDT | Q1 2026 | |
| 08:30 EST | Q4 2025 | |
| 08:30 EST | Q3 2025 |
No consensus, and why
No consensus shown — we don’t license survey estimates. The “expected” figure on a commercial calendar is a survey of economists sold by a data vendor. It is not a government work, there is no public-domain source for it, and we would rather say so than print an empty column. There are no prediction-market odds here either, for the same licensing reason.
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