Employment Changes in Jobs and Their Effect on the Employment Cost Index

<p>The Employment Cost Index for wages and salaries is based on a comparison of the average wage rates for the same set of jobs across a three-month interval. Employment for the majority of the jobs remains the same over the three months. However if the index were based solely on the jobs for which their number of workers decreased it would have shown wage growth of over 50 percent from December 2001 to December 2011. Conversely if the index were based solely on the jobs for which their number of workers increased it would have almost no wage growth over the same ten years. Therefore this article describes how the jobs are defined and chosen for the ECI sample and it explores how such high wage growth for jobs losing workers along with such low wage growth for jobs gaining workers affects the growth in the Employment Cost Index for wages and salaries overall.</p><p>This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact and remains as true to the original work as possible. Therefore you will see the original copyright references library stamps (as most of these works have been housed in our most important libraries around the world) and other notations in the work.</p><p>This work is in the public domain in the United States of America and possibly other nations. Within the United States you may freely copy and distribute this work as no entity (individual or corporate) has a copyright on the body of the work.</p><p>As a reproduction of a historical artifact this work may contain missing or blurred pages poor pictures errant marks etc. Scholars believe and we concur that this work is important enough to be preserved reproduced and made generally available to the public. We appreciate your support of the preservation process and thank you for being an important part of keeping this knowledge alive and relevant.</p>