Labor Marketmonthly
Avg Hourly Earnings (Private)
Average hourly earnings for all private employees, wage growth tracker.
The Avg Hourly Earnings (Private) is currently $37.38, last updated .
$37.38
1W +0.24%1M +0.24%3M +0.62%
Updated 14m agoThe labor market is the backbone of the consumer economy. Rising jobless claims and a climbing unemployment rate are classic late-cycle signals that precede recessions and rate cuts. The Fed has a dual mandate, maximum employment and stable prices, so labor data directly influences the path of monetary policy.
Updated just now
Recent Data
| Date | Value | Change |
|---|---|---|
| Mar 1, 2026 | $37.38 | +0.24% |
| Feb 1, 2026 | $37.29 | +0.38% |
| Jan 1, 2026 | $37.15 | +0.35% |
| Dec 1, 2025 | $37.02 | +0.05% |
| Nov 1, 2025 | $37 | +0.41% |
| Oct 1, 2025 | $36.85 | +0.41% |
| Sep 1, 2025 | $36.7 | +0.22% |
| Aug 1, 2025 | $36.62 | +0.41% |
| Jul 1, 2025 | $36.47 | +0.30% |
| Jun 1, 2025 | $36.36 | — |
Related in Labor Market
Unemployment Rate (U3)
Headline unemployment rate, percentage of the labor force without jobs.
Underemployment Rate (U6)
Broadest unemployment measure including discouraged and part-time workers.
Initial Jobless Claims
Weekly first-time unemployment insurance claims, the highest-frequency labor indicator.
Initial Claims 4-Week MA
Smoothed jobless claims average, removes weekly volatility.
Explore Further
Forecast 2026
Avg Hourly Earnings (Private) Outlook
Scenario-weighted forecast using regime implied approach.
Comparison
Average Hourly Earnings vs CPI
When wages grow faster than CPI, real wages are rising and consumers have increasing purchasing power, supporting spendi...
Comparison
Average Hourly Earnings vs PPI Final Demand Services
Services PPI is dominated by labor costs. When wage growth rises faster than services PPI, firms absorb labor costs in m...
Comparison
Average Weekly Hours vs Average Hourly Earnings
Hours worked falls before layoffs when demand softens (employers cut overtime first). Wages respond more slowly because ...
Scenario
What Happens When the Quits Rate Collapses?
What happens when the JOLTS quits rate collapses below 2.0%? Loss of worker confidence, wage growth deceleration, and re...
Scenario
What Happens When Wage Growth Accelerates Above 5%?
What happens when average hourly earnings accelerate above 5% year-over-year? Fed response, inflation implications, and ...
Category
All Labor Market Data
Nonfarm payrolls, unemployment rate, jobless claims, and wage growth. Track the employment data that shapes Fed policy a...
Frequently Asked Questions
▶What is Avg Hourly Earnings (Private)?
Average hourly earnings for all private employees, wage growth tracker.
▶How does Avg Hourly Earnings (Private) relate to labor market?
Avg Hourly Earnings (Private) is part of the Labor Market category. The labor market is the backbone of the consumer economy. Rising jobless claims and a climbing unemployment rate are classic late-cycle signals that precede recessions and rate cuts. The Fed has a dual mandate, maximum employment and stable prices, so labor data directly influences the path of monetary policy.
▶How often is Avg Hourly Earnings (Private) updated?
Avg Hourly Earnings (Private) is updated once per month when the releasing agency publishes new data. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.
▶Where does Convex source Avg Hourly Earnings (Private) data?
Convex sources Avg Hourly Earnings (Private) data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.
▶What can I do on the Avg Hourly Earnings (Private) chart page?
The Avg Hourly Earnings (Private) page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.
Get daily macro analysis covering Avg Hourly Earnings (Private) and related indicators delivered to your inbox.
Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated monthly. This page is for informational purposes only and does not constitute financial advice.