Here comes the employment cost index...

The employment cost index (ECI) is expected to rise by 0.6% when its released by the Bureau of Labor Statistics at 8:30 a.m. ET.The ECI is a comprehensive measure of employee wages and benefits, essentially the total labor cost for employers. It is a fuller picture of wage pressures than the monthly average hourly earnings.The index increased by 0.6% in the second quarter, and increased 2.3% over the prior year, it's second-highest reading since the recession.Wages and salaries for civilian workers (which makesup 70% of the index) increased by 0.6% in the second quarter and benefits rose by 0.5%.We'll have this quarter's numbers when they cross, so refresh the page for updates.SEE ALSO:The Cheesecake Factory has great news for the US economyJoin the conversation about this storyNOW WATCH: LIZ ANN SONDERS: The most unsettling outcome for the markets would be a surprise Trump win
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