US Wage Growth Slightly Below Forecasts

Average hourly earnings for all employees on US private nonfarm payrolls rose by 15 cents, or 0.4%, over a month, to $37.32 in February 2026, matching January's pace and slightly above market forecasts of 0.3%. In February, average hourly earnings of private-sector production and nonsupervisory employees rose by 9 cents, or 0.3%, to $32.03. Over the past 12 months, average hourly earnings have increased by 3.8%, up from a 3.7% advance in January and also above market estimates of a 3.7% rise.

Average hourly earnings for all employees on US private nonfarm payrolls rose by 15 cents, or 0.4%, over a month to $37.17 in January 2026, after a downwardly revised 0.1% increase in December and slightly above analysts' estimates of a 0.3% gain. In January, average hourly earnings of private-sector production and nonsupervisory employees rose by 12 cents, or 0.4%, to $31.95. Over the past 12 months, average hourly earnings have increased by 3.7%, matching December's revised reading and above market forecasts of a 3.6% rise.

Average hourly earnings for all employees on US private nonfarm payrolls rose by 12 cents, or 0.3%, over a month to $37.02 in December 2025, after an upwardly revised 0.2% increase in November, matching market forecasts. In December, average hourly earnings of private-sector production and nonsupervisory employees, at $31.76, changed little (+3 cents). Over the past 12 months, average hourly earnings have increased by 3.8% in December, the most in four months, following an upwardly revised 3.6% gain in November and surpassing market estimates of a 3.6% rise.