Average hourly earnings for all employees on US private nonfarm payrolls edged up by 5 cents, or 0.1%, over a month to $34.57 in February 2024, following a downwardly revised 0.5% increase in January and below market forecasts of 0.3%. It was the smallest gain in wages since February 2022. In February, average hourly earnings of private-sector production and nonsupervisory employees edged up by 7 cents, or 0.2%, to $29.71. Over the past 12 months, average hourly earnings have increased by 4.3% in February, after a downwardly revised 4.4% rise in the prior month and compared with market estimates of 4.4%. source: U.S. Bureau of Labor Statistics

Average Hourly Earnings in the United States increased 0.10 percent in February of 2024 over the previous month. Average Hourly Earnings in the United States averaged 0.25 percent from 2006 until 2024, reaching an all time high of 4.30 percent in April of 2020 and a record low of -1.10 percent in June of 2020. This page provides the latest reported value for - United States Average Hourly Earnings - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Average Hourly Earnings MoM - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.

Average Hourly Earnings in the United States increased 0.10 percent in February of 2024 over the previous month. Average Hourly Earnings in the United States is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-02 01:30 PM
Average Hourly Earnings MoM
Jan 0.6% 0.4% 0.3% 0.3%
2024-03-08 01:30 PM
Average Hourly Earnings MoM
Feb 0.1% 0.5% 0.3% 0.3%
2024-04-05 12:30 PM
Average Hourly Earnings MoM
Mar 0.1% 0.3% 0.3%


Related Last Previous Unit Reference
Average Hourly Earnings MoM 0.10 0.50 percent Feb 2024
Average Hourly Earnings YoY 4.30 4.40 percent Feb 2024
Average Weekly Hours 34.30 34.20 Hours Feb 2024
Employed Persons 160968.00 161152.00 Thousand Feb 2024
Employment Cost Index 0.90 1.10 percent Dec 2023
Employment Rate 60.10 60.20 percent Feb 2024
Full Time Employment 132946.00 133133.00 Thousand Feb 2024
Government Payrolls 52.00 52.00 Thousand Feb 2024
JOLTs Job Openings 8863.00 8889.00 Thousand Jan 2024
Job Openings 8943.00 8344.00 Thousand Jan 2024
Participation Rate 62.50 62.50 percent Feb 2024
Labour Costs 119.99 119.42 points Dec 2023
Long Term Unemployment Rate 0.72 0.76 percent Feb 2024
Manufacturing Payrolls -4.00 8.00 Thousand Feb 2024
Non Farm Payrolls 275.00 229.00 Thousand Feb 2024
Nonfarm Payrolls Private 223.00 177.00 Thousand Feb 2024
Part Time Employment 27941.00 27890.00 Thousand Feb 2024
Productivity 112.09 110.88 points Dec 2023
Unemployed Persons 6458.00 6124.00 Thousand Feb 2024
Unemployment Rate 3.90 3.70 percent Feb 2024
Wages 29.71 29.64 USD/Hour Feb 2024
Wages in Manufacturing 27.26 27.27 USD/Hour Feb 2024
Youth Unemployment Rate 8.80 7.30 percent Feb 2024

United States Average Hourly Earnings MoM
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
0.10 0.50 4.30 -1.10 2006 - 2024 percent Monthly
Current Prices, SA

News Stream
US Wage Growth Slows to 2-Year Low
Average hourly earnings for all employees on US private nonfarm payrolls edged up by 5 cents, or 0.1%, over a month to $34.57 in February 2024, following a downwardly revised 0.5% increase in January and below market forecasts of 0.3%. It was the smallest gain in wages since February 2022. In February, average hourly earnings of private-sector production and nonsupervisory employees edged up by 7 cents, or 0.2%, to $29.71. Over the past 12 months, average hourly earnings have increased by 4.3% in February, after a downwardly revised 4.4% rise in the prior month and compared with market estimates of 4.4%.
2024-03-08
US Wages Rise Faster Than Expected
Average hourly earnings for all employees on US private nonfarm payrolls rose by 19 cents, or 0.6 percent, to $34.55 in January 2024, above market expectations of 0.3 percent. It was the biggest rise since March 2022. Over the past 12 months, average hourly earnings have increased by 4.5 percent. In January, average hourly earnings of private-sector production and nonsupervisory employees rose by 13 cents, or 0.4 percent, to $29.66.
2024-02-02
US Wage Growth Above Forecasts
Average hourly earnings for all employees on US private nonfarm payrolls rose by 15 cents, or 0.4%, over a month to $34.27 in December 2023, the same rate as in the prior month and above market estimates of 0.3%. In December, average hourly earnings of private-sector production and nonsupervisory employees rose by 10 cents, or 0.3%, to $29.42. Over the past 12 months, average hourly earnings have increased by 4.1%, up from a 4% rise in the prior month and above market forecasts of 3.9%.
2024-01-05