us average employee hourly earnings

 

What the numbers say: Average hourly earnings in the U.S. were up 0.3% from February to March. This brings the 12-month increase in wages to 4.2%, the lowest since June 2021.  Relevance: With inflation still significantly above the Federal Reserve's 2% interest rate target, the low increase in average wages means that families will have less disposable income.  Importance: These figures suggest that the Federal Reserve's plan to cool the economy through higher interest rates is working, decreasing the chances of another interest rate hike at the next Fed meeting on May 2-3.