Indicator detail

Average Hourly Earnings

Average Hourly Earnings, Total Private · FRED · Data through 2026-06-01

What this number means

Average hourly pay for private-sector workers.

It is a simple read on wage growth and worker bargaining power, though it does not show how pay differs across occupations or income groups.

Rising wages can be good for workers; very rapid growth can also feed inflation concerns.

Time series

FRED · monthly · Dollars per Hour

Historical context

100th percentile

Current value is in the 100th percentile of observations across 11 years, which is high.

History: 11 years
Last comparable: May 2026

Definition

Average Hourly Earnings is a labor market indicator that measures the average amount paid to workers for each hour of their labor. It encompasses wages, salaries, and other forms of compensation. This figure is essential because it serves as a gauge of wage trends, reflecting changes in worker compensation and overall economic conditions. Rising average hourly earnings can indicate a tightening labor market, where demand for workers may lead to higher pay, while stagnant or declining figures may suggest economic challenges. The data is typically sourced from surveys conducted by government agencies or labor departments, which gather information from various sectors and industries to present a comprehensive overview. Common misinterpretations of Average Hourly Earnings include misunderstanding it as a direct indicator of overall economic health or using it to assess individual wage changes without considering factors such as part-time versus full-time employment and variations across different sectors or regions. Additionally, some may overlook the effects of inflation, which can impact the purchasing power of those earnings.

Cached generated definition · Model: gpt-4o-mini

Breakdowns

Compare this metric across available public data cuts

These sections only appear when Labor Pulse has a verified source series for the selected metric. Unsupported cuts are left out instead of estimated.

Industry

Industry breakdown

Compare this metric by industry

Use this view to compare where payroll employment is concentrated and how major sectors have moved over time. These are job counts by industry, so they should not be read as unique workers.

Showing the top 5 available lines by latest value. The full table below includes every mapped segment.

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10-year comparison history

Source: FRED series listed in the table below. Lines use one shared y axis, so levels can be compared directly.

Information

Financial activities

Professional and business services

Mining and logging

Construction

Segment	Current	As of	Source	What to know
Goods-producingAverage hourly earnings	38.6	2026-06-01	FRED CES0600000003	Industry earnings compare average hourly pay for all employees in each sector.
Mining and loggingAverage hourly earnings	41.8	2026-06-01	FRED CES1000000003	Industry earnings compare average hourly pay for all employees in each sector.
ConstructionAverage hourly earnings	41.4	2026-06-01	FRED CES2000000003	Industry earnings compare average hourly pay for all employees in each sector.
ManufacturingAverage hourly earnings	36.7	2026-06-01	FRED CES3000000003	Industry earnings compare average hourly pay for all employees in each sector.
Trade, transportation, and utilitiesAverage hourly earnings	32	2026-06-01	FRED CES4000000003	Industry earnings compare average hourly pay for all employees in each sector.
InformationAverage hourly earnings	55.7	2026-06-01	FRED CES5000000003	Industry earnings compare average hourly pay for all employees in each sector.
Financial activitiesAverage hourly earnings	49.6	2026-06-01	FRED CES5500000003	Industry earnings compare average hourly pay for all employees in each sector.
Professional and business servicesAverage hourly earnings	45.7	2026-06-01	FRED CES6000000003	Industry earnings compare average hourly pay for all employees in each sector.
Education and health servicesAverage hourly earnings	36.3	2026-06-01	FRED CES6500000003	Industry earnings compare average hourly pay for all employees in each sector.
Leisure and hospitalityAverage hourly earnings	23.6	2026-06-01	FRED CES7000000003	Industry earnings compare average hourly pay for all employees in each sector.
Other servicesAverage hourly earnings	34.1	2026-06-01	FRED CES8000000003	Industry earnings compare average hourly pay for all employees in each sector.