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employment cost index
em·ploy·ment cost in·dex


noun 
Definition:
 
statistic suggesting inflation: an index maintained by the Bureau of Labor Statistics that tracks the movement of wages and employment benefits. When rising it is seen as heralding inflation.
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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