2018 U.S. Military Basic Pay Raise
October 28, 2016, at 0830EST, the United States Employment Cost Index (ECI) was released. The releasing of the ECI by the United States Bureau of Labor Statistics is an eagerly awaited quarterly economic indicator for those in the stock market and politics; but what makes this morning’s release important to our military is that it is the first indicator used to determine the actual pay raise amount for 2018. For 2018, the pay raise increase should be 2.4 percent based on U.S.C. Title 37.
March 24, 2016, the Department of Defense (DoD) made available (originally generated on March 11th) the Fiscal Year 2017 Green Book, and it projected a 1.6 percent pay raise for FY-2018. The 1.6 percent projection is one tenth higher than last year's DoD projection for 2018.