US Q3 employment cost index 0.7% vs 0.7% exp

US Q3 employment cost index data now out 31 Oct

  • 0.5% prev
  • employment benefits qq 0.8% vs 0.6% prev
  • employment wages qq 0.7% vs 0.5% prev

All very much in line with expectations but better than prev. Stats office saying Hurricanes Harvey and Irma had minimal impact on data collection in the September 2017 reference period
The Employment Cost Index measures the change in the price businesses and the government pay for civilian labour.
Full report here
USD suitably unfazed apart from USDCAD which spikes to 1.2906 on softer Canadian GDP data.

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