US employment cost index for the 4th quarter 0.7% vs. 0.5% estimate

US employment cost Index with the 4th quarter
– compensation 0.7% vs. 0.5% last quarter. Estimate 0.5%
– wages and salaries 0.9% vs. 0.4% last quarter
– benefits 0.6% vs. 0.6% last quarter
Pres. Biden is looking toward a $15 minimum wage. If he is able to get it through, we could expect to see increased employment costs down