This BLS survey provides the quarterly measure of changes in labor and compensation costs and is used as the principle economic indicator for the Federal Reserve.
A)National Compensation Survey
B)Employment Cost Index
C)Employer Costs for Employee Compensation
D)National Benefit Index

Question

Quizplus · Accepted Answer

The Employment Cost Index (ECI) is a quarterly survey conducted by the Bureau of Labor Statistics (BLS) that measures changes in labor costs, including wages, salaries, and benefits. It is used as the primary economic indicator for the Federal Reserve to gauge inflationary pressures and overall economic growth. The other choices are not specifically used as economic indicators for the Federal Reserve.

This BLS Survey Provides the Quarterly Measure of Changes in Labor