Figure
Unemployment does not predict wage growth after 2007 : Unemployment rate and annual change in nominal wage growth, 2008–2018
| UR | NWC | |
|---|---|---|
| 2008-Q1 | 5.00% | 3.81% |
| 2008-Q2 | 5.33% | 3.65% |
| 2008-Q3 | 6.00% | 3.73% |
| 2008-Q4 | 6.87% | 3.88% |
| 2009-Q1 | 8.27% | 3.61% |
| 2009-Q2 | 9.30% | 3.10% |
| 2009-Q3 | 9.63% | 2.72% |
| 2009-Q4 | 9.93% | 2.62% |
| 2010-Q1 | 9.83% | 2.49% |
| 2010-Q2 | 9.63% | 2.50% |
| 2010-Q3 | 9.47% | 2.32% |
| 2010-Q4 | 9.50% | 2.20% |
| 2011-Q1 | 9.03% | 2.15% |
| 2011-Q2 | 9.07% | 2.09% |
| 2011-Q3 | 9.00% | 2.08% |
| 2011-Q4 | 8.63% | 1.82% |
| 2012-Q1 | 8.27% | 1.52% |
| 2012-Q2 | 8.20% | 1.55% |
| 2012-Q3 | 8.03% | 1.42% |
| 2012-Q4 | 7.80% | 1.45% |
| 2013-Q1 | 7.73% | 1.92% |
| 2013-Q2 | 7.53% | 1.90% |
| 2013-Q3 | 7.23% | 2.13% |
| 2013-Q4 | 6.93% | 2.32% |
| 2014-Q1 | 6.67% | 2.35% |
| 2014-Q2 | 6.20% | 2.39% |
| 2014-Q3 | 6.07% | 2.36% |
| 2014-Q4 | 5.70% | 2.13% |
| 2015-Q1 | 5.53% | 1.89% |
| 2015-Q2 | 5.43% | 2.06% |
| 2015-Q3 | 5.10% | 2.03% |
| 2015-Q4 | 5.03% | 2.33% |
| 2016-Q1 | 4.93% | 2.45% |
| 2016-Q2 | 4.90% | 2.45% |
| 2016-Q3 | 4.90% | 2.53% |
| 2016-Q4 | 4.77% | 2.42% |
| 2017-Q1 | 4.60% | 2.33% |
| 2017-Q2 | 4.37% | 2.30% |
| 2017-Q3 | 4.30% | 2.38% |
| 2017-Q4 | 4.13% | 2.33% |
| 2018-Q1 | 4.07% | 2.50% |
| 2018-Q2 | 3.90% | 2.71% |
| 2018-Q3 | 3.80% | 2.83% |
| 2018-Q4 | 3.80% | 3.25% |
Note: Data are quarterly, with nominal wage changes measured from the same quarter in the previous year.
Sources: Unemployment rates are from the Bureau of Labor Statistics (BLS) Current Population Survey and wages are the average hourly earnings of production and nonsupervisory workers from the BLS Current Employment Statistics.
This chart appears in:
Previous chart: « Black unemployment is significantly higher than white unemployment regardless of educational attainment: Unemployment rates by race and education level
Next chart: Black–white and Hispanic–white state unemployment rate ratios, 2018Q4 »