Economic Perspective – April 2018

Employers Council (EC) has prepared this Economic Perspective summary to assist the decision-makers of member organizations. The economic data contained in these charts represent a summary of the most commonly watched economic and compensation indicators. These data from the Bureau of Labor Statistics can be used in conjunction with EC’s compensation and personnel practices surveys in order to provide a more complete picture. Refer to EC’s various surveys for information on average pay increase projections, turnover rates, cost of benefits, average salaries for close to 3,500 jobs, and insured and paid-time-off benefits.

CPI – Consumer Price Index*

CPI-W≠≠ CPI-U
Phoenix-Mesa, AZ Latest Date (Jan-Jun 2017) N : Latest Figure/Year Ago 130.1/127.2 132.7/129.1
% Change +2.3% +2.7%
Denver-Boulder-Greeley, CO Latest Date (Jan-Jun 2017) N : Latest Figure/Year Ago 241.7/234.2 252.8/245.2
% Change +3.2% +3.1%
United States Latest Date (12/17) A : Latest Figure/Year Ago 242.0/236.8 247.9/242.8
% Change +2.2% +2.1%

 

ECI – Employment Cost Index Wages & Salaries Total Compensation
12 Months Ended 12/17 N 12 Months Ended 12/17 N
Private Industry Workers 2.8% 2.6%
  Manufacturing 2.5% 2.7%
  Service-providing Industries** 2.8% 2.6%
  Mountain Region*** 3.0% 2.8%
State/Local Government Workers 2.1% 2.5%

 

≠ Weekly Manufacturing Hours and Hourly Manufacturing Earnings data not available for Cheyenne, Wyoming.

* CPI data for Utah and Wyoming is not available.

≠≠ CPI-W Revised CPI for Urban Wage Earners & Clerical Workers

** Includes the following industries: wholesale trade, retail trade; transportation and warehousing; utilities; information; finance and insurance; real estate; rental and leasing; professional; scientific and technical services; management of companies and enterprises; administrative support; waste management and remediation services; education services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other services except public administration.

***Includes the states of Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming.

 

DEFINITIONS/SOURCES

(1)           Bureau of Labor Statistics, U.S. Dept. of Labor
A    =     Seasonally Adjusted
C     =     Corrected
D    =     Reflects Revised population controls and model reestimation
E     =     Reflects inputs, reestimations, and new statewide controls
N    =     Not Seasonally Adjusted
P     =     Preliminary Data
R     =     Revised