Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Employment Cost - Benefits QoQ fell to 0.7% in Q1 2026
FMPMonthlyReleased February 2026
US Employment Cost - Benefits QoQ fell to 0.7% in Q1 2026, released February 2026, down 0.1% from December's 0.8% reading. The reading matched the 0.7% consensus.
Latest Release
0.700000
Actual
0.700000
Consensus
0.800000
Previous
Median Absolute Error
±0.15 percentage points
across last 10 releases
Last Call
Feb 2026
Predicted: 0.8
Actual: 0.7
Error: +0.1
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish Stocks | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Bullish USD | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Bearish Gold | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Employment Cost - Benefits QoQ (United States) was reported at 0.7% in January 2026. This matched the market consensus of 0.7% exactly. The reading fell from the previous value of 0.8%. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 0.73%, down from the prior three at 0.93%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish Stocks). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR). Over the last 10 releases, the Sigmacast model's median absolute error is 0.15%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include NY Empire State Manufacturing Index (Jun 15) and Industrial Production MoM (Jun 15).
Auto-generated from current model state · Refreshes on each release · Last update February 2026.
SHARE
Employment Cost - Benefits QoQ - US
Loading chart data...
About Employment Cost - Benefits QoQ — United States
DEFINITION
Employment Cost - Benefits QoQ is a financial indicator that measures the change in the cost of employee benefits from one quarter to the next. This includes expenses such as healthcare, retirement plans, and other non-wage benefits provided by employers. It is an important metric for businesses and investors as it reflects the overall cost of labor and can impact profitability and financial performance. A positive change in this indicator indicates an increase in the cost of employee benefits, while a negative change suggests a decrease.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual 1.2 %, consensus 0.4 %. Prior reading (Oct 2025): 0.7 %. Before that (Jul 2025): 0.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish Stocks, r=0.50) — a useful reference for index-focused traders.