Average Hourly Earnings

Average hourly earnings measure the average amount US private-sector employees are paid per hour, published monthly by the Bureau of Labor Statistics as part of the same Employment Situation report that produces nonfarm payrolls, and its year-over-year percentage change is the most commonly cited headline wage-growth figure in US economic reporting. Because rising wages can both reflect and drive broader price inflation through employers passing higher labor costs on to consumers, the measure is closely watched by the Federal Reserve as a signal of wage-price pressure in its policy deliberations.