Labor costs in the US rose moderately in the third quarter, indicating that inflationary pressure on wages was relatively moderate. The Bureau of Labor Statistics of the US Department of Labor said on Friday that the employment cost index, which is the most comprehensive measure of labor costs, rose 0.8% in the last quarter, lower than the 0.9% increase from April to June, in line with economists' expectations. In the 12 months to September, labor costs rose 3.4%, the same as the 12-month increase ending June. Policymakers regard ECI as one of the best indicators to measure the degree of relaxation in the labor market, and also a predictor of core inflation, because the index adjusts changes in the composition of personnel and the quality of work.

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