This page tracks Average Hourly Earnings for all private‑sector employees. AHE measures the average wage paid per hour and is one of the most widely followed indicators of wage growth and labor‑market tightness.
Because wages influence consumer spending and inflation, AHE is a key component of the Fed’s assessment of economic conditions.
What This Chart Shows
- Trends in hourly wages across the private sector
- Wage acceleration during tight labor markets
- Slower wage growth during recessions or weak hiring periods
- How wages respond to inflation, productivity, and labor demand
- The relationship between wage growth and consumer spending
Key Takeaways
- AHE is a core measure of wage inflation
- Rising wages support consumer spending but may contribute to inflation
- Slowing wage growth can signal easing labor‑market tightness
- AHE is more volatile than the Employment Cost Index (ECI)
- Best interpreted alongside CPI, ECI, and Unemployment Rate
Data Source
U.S. Bureau of Labor Statistics (BLS)