U.S. BLS
Monthly
AHE
Average hourly earnings (total private)
Level
$37.53
▲
MoM +0.3% · YoY +3.4%
2026-05-01 as of
Average hourly earnings of all private-sector employees (USD, seasonally adjusted). Wage growth (YoY) fuels consumer spending and is a key clue to inflation via services prices (wage inflation).
Key points
- Average hourly earnings, all private employees ($, SA)
- Watch the YoY growth — the pace of wage gains
- Fuels spending and signals services inflation
- Watched by the Fed for wage inflation
How to read it
Watch the dollar level and the year-over-year (YoY) growth. If wage growth outpaces inflation, real wages rise. The Fed watches wage inflation (especially services), so whether YoY growth is slowing is closely followed.
Recent trend
| Period | Value | Change |
|---|---|---|
| 2026-05-01 | 37.53 | +0.12 |
| 2026-04-01 | 37.41 | +0.06 |
| 2026-03-01 | 37.35 | +0.08 |
| 2026-02-01 | 37.27 | +0.12 |
| 2026-01-01 | 37.15 | +0.13 |
| 2025-12-01 | 37.02 | +0.02 |
| 2025-11-01 | 37 | +0.15 |
| 2025-10-01 | 36.85 | +0.15 |
| 2025-09-01 | 36.7 | +0.08 |
| 2025-08-01 | 36.62 | +0.15 |
| 2025-07-01 | 36.47 | +0.11 |
| 2025-06-01 | 36.36 | +0.08 |
FAQ
Why do average hourly earnings matter?
Wages fund consumption and feed inflation, especially via services prices. Wage growth (YoY) is one of the inputs into the Fed's policy decisions.
Sources (primary)
This article is an independent summary based on the official U.S. data below. Please verify the latest and exact details with the official sources.
- BLS (series page, official)：CES0500000003
- Source agency：U.S. BLS
Source: U.S. Bureau of Labor Statistics (BLS) (public domain). This site is not endorsed or certified by the BLS.