Employment Cost Index (QoQ) (Q3) 1.1% vs 1% Est.
Portfolio Pulse from Benzinga Newsdesk
The Employment Cost Index for Q3 has come in at 1.1%, slightly above the estimated 1%.
October 31, 2023 | 12:30 pm
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NEUTRAL IMPACT
The higher than expected Employment Cost Index could potentially impact the SPY ETF, as it reflects broader economic trends.
The Employment Cost Index is a measure of wage inflation. A higher than expected index suggests increased costs for employers, which could impact profitability and thus the broader market, reflected in the SPY ETF. However, the direct impact is uncertain and depends on various other factors.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50