Average hourly earnings for all employees on US private nonfarm payrolls increased by 4.6% year-on-year in February 2023, up from 4.4% in the prior month but slightly below market forecasts of a 4.7% rise. source: U.S. Bureau of Labor Statistics

Average Hourly Earnings YoY in the United States averaged 2.97 percent from 2007 until 2023, reaching an all time high of 8.10 percent in April of 2020 and a record low of 0.60 percent in April of 2021. This page includes a chart with historical data for the United States Average Hourly Earnings YoY. United States Average Hourly Earnings YoY - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Average Hourly Earnings YoY in the United States is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States Average Hourly Earnings YoY



Calendar GMT Actual Previous Consensus TEForecast
2023-02-03 01:30 PM Jan 4.4% 4.9% 4.3% 4.4%
2023-03-10 01:30 PM Feb 4.6% 4.4% 4.7% 4.7%
2023-04-07 12:30 PM Mar 4.6% 4.5%


Related Last Previous Unit Reference
Unemployment Rate 3.60 3.40 percent Feb 2023
Non Farm Payrolls 311.00 504.00 Thousand Feb 2023
Nonfarm Payrolls Private 265.00 386.00 Thousand Feb 2023
Government Payrolls 46.00 118.00 Thousand Feb 2023
Manufacturing Payrolls -4.00 13.00 Thousand Feb 2023
Average Hourly Earnings 0.20 0.30 percent Feb 2023
Average Weekly Hours 34.50 34.60 Hours Feb 2023
Labor Force Participation Rate 62.50 62.40 percent Feb 2023
Average Hourly Earnings YoY 4.60 4.40 percent Feb 2023

United States Average Hourly Earnings YoY
In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.
Actual Previous Highest Lowest Dates Unit Frequency
4.60 4.40 8.10 0.60 2007 - 2023 percent Monthly
SA

News Stream
US Annual Wages Growth Below Forecasts
Average hourly earnings for all employees on US private nonfarm payrolls increased by 4.6% year-on-year in February 2023, up from 4.4% in the prior month but slightly below market forecasts of a 4.7% rise.
2023-03-10
US Wages Annual Growth at Near 1-1/2-Year Low
Average hourly earnings for all employees on US private nonfarm payrolls increased by 4.4% from a year earlier in January of 2023, after an upwardly revised 4.8% rise in the prior month and slightly above market estimates of 4.3%. It was the smallest annual growth in average hourly earnings since August of 2021.
2023-02-03