U.S. Average Hourly Earnings
Chart of the Week for February 16, 2018 - February 22, 2018
On a monthly basis, the Bureau of Labor Statistics releases its employment report which includes the number of non-farm jobs added during the previous month, the unemployment rate, and change in average hourly earnings for employees. The chart above shows the changes in the average hourly earnings for the previous 12 months.
January's 2.9% annual earnings growth was an increase over December 2017's 2.7% annual increase, and marked the fourth consecutive month of growth as well as the highest growth rate since 2009. Some economists consider the economy to be at or near full employment, and believe earnings growth should continue into 2018. Other economists note that increasing earnings growth is a leading indicator of inflation, and the U.S. Federal Reserve is watching inflation closely as it judges the need to increase the target rate range of the Federal Funds Rate during the year.
Posted by: sarah_oz@yahoo.com
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