What does Employment Cost Index mean? Read on to discover the definition & meaning of the term Employment Cost Index - to help you better understand the language used in insurance policies.
Employment Cost Index
The Employment Cost Index is an index that keeps track of inflation. It is calculated and maintained by the U.S. Department of Labor. It is common for employers to give employees insurance coverage as a benefit. The Department of Labor monitors the cost of these benefits on a quarterly basis.
We hope the you have a better understanding of the meaning of Employment Cost Index.