To this end, the speakers at this conference will focus on three broad issues. I would like to briefly mention each, highlighting some of the questions that I believe can be informed by the research that will be presented here. First, this morning’s panel will address early childhood development and education.
The two principal quarterly indicators of aggregate hourly compensation are the employment cost index (ECI) and nonfarm compensation per hour (CPH). Both are imperfect measures of the labor costs relevant to pricing decisions. For example, the ECI's fixed employment and occupation weights may not reflect changes in the labor market, and the ECI excludes stock options and similar forms of payment.