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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Employment Cost - Wages QoQ fell to 0.7 in January 2026
FMPMonthlyReleased February 2026
US Employment Cost - Wages QoQ fell to 0.7 in January 2026, released February 2026, down 0.1 from December's 0.8 reading. The reading missed the 0.8 consensus by 0.1.
Latest Release
0.700000
Actual
0.800000
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 February 2026 reading fell from the previous value of 0.8. Over the last 10 releases, the Sigmanomics model has produced a median absolute forecast error of ±0.15. Historically, this indicator is positively correlated with S&P 500 (Bullish Stocks) and negatively correlated with EUR/USD (Bearish EUR).
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Employment Cost - Wages QoQ - US
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Economic Calendar - US Events
| Friday, May 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | US | NY Empire State Manufacturing Index | 19.6 | 11 | 7.5 | 11.55 | Medium |
| 13:15 | US | Industrial Production MoM | 0.7 | -0.3 | 0.3 | 0.45 | Medium |
| 13:15 | US | Capacity Utilization | 76.1 | 75.7 | 75.8 | 75.82 | Low |
| 13:15 | US | Manufacturing Production YoY | 1.3 | 0.6 | 0.2 | 0.75 | Low |
| 13:15 | US | Manufacturing Production MoM | 0.6 | 0.1 | 0.2 | 0.28 | Low |
| 13:15 | US | Industrial Production YoY | 1.4 | 0.76 | 0.4 | 0.75 | Low |
| Monday, May 18, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 14:00 | US | NAHB Housing Market Index | 34 | 34 | 31.50 | Medium | |
| Tuesday, May 19, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 14:00 | US | Pending Home Sales MoM | 1.5 | 1.6 | 1.60 | Medium | |
| 14:00 | US | Pending Home Sales YoY | -1.1 | -0.5 | -0.50 | Medium | |