Year-over-year change in nominal average hourly earnings of all private nonfarm employees and private production/nonsupervisory workers, 2007–2014
| Month | All private employees | Production/nonsupervisory workers |
|---|---|---|
| Mar-2007 | 3.6% | 4.1% |
| Apr-2007 | 3.3% | 3.8% |
| May-2007 | 3.7% | 4.1% |
| Jun-2007 | 3.9% | 4.1% |
| Jul-2007 | 3.4% | 4.1% |
| Aug-2007 | 3.5% | 4.0% |
| Sep-2007 | 3.2% | 4.1% |
| Oct-2007 | 3.3% | 3.8% |
| Nov-2007 | 3.3% | 3.9% |
| Dec-2007 | 3.1% | 3.8% |
| Jan-2008 | 3.1% | 3.9% |
| Feb-2008 | 3.0% | 3.7% |
| Mar-2008 | 3.0% | 3.8% |
| Apr-2008 | 2.8% | 3.7% |
| May-2008 | 3.0% | 3.7% |
| Jun-2008 | 2.7% | 3.6% |
| Jul-2008 | 3.0% | 3.7% |
| Aug-2008 | 3.3% | 3.8% |
| Sep-2008 | 3.3% | 3.6% |
| Oct-2008 | 3.3% | 3.9% |
| Nov-2008 | 3.6% | 3.9% |
| Dec-2008 | 3.6% | 3.8% |
| Jan-2009 | 3.5% | 3.7% |
| Feb-2009 | 3.5% | 3.7% |
| Mar-2009 | 3.2% | 3.5% |
| Apr-2009 | 3.2% | 3.3% |
| May-2009 | 2.8% | 3.1% |
| Jun-2009 | 2.7% | 2.9% |
| Jul-2009 | 2.6% | 2.7% |
| Aug-2009 | 2.4% | 2.6% |
| Sep-2009 | 2.3% | 2.7% |
| Oct-2009 | 2.3% | 2.6% |
| Nov-2009 | 2.1% | 2.7% |
| Dec-2009 | 1.8% | 2.5% |
| Jan-2010 | 2.0% | 2.6% |
| Feb-2010 | 1.8% | 2.5% |
| Mar-2010 | 1.8% | 2.3% |
| Apr-2010 | 1.8% | 2.4% |
| May-2010 | 1.9% | 2.6% |
| Jun-2010 | 1.8% | 2.5% |
| Jul-2010 | 1.8% | 2.5% |
| Aug-2010 | 1.7% | 2.4% |
| Sep-2010 | 1.9% | 2.2% |
| Oct-2010 | 1.9% | 2.5% |
| Nov-2010 | 1.7% | 2.2% |
| Dec-2010 | 1.7% | 2.0% |
| Jan-2011 | 2.0% | 2.2% |
| Feb-2011 | 1.8% | 2.1% |
| Mar-2011 | 1.8% | 2.1% |
| Apr-2011 | 1.9% | 2.1% |
| May-2011 | 2.0% | 2.1% |
| Jun-2011 | 2.1% | 2.0% |
| Jul-2011 | 2.3% | 2.3% |
| Aug-2011 | 1.9% | 2.0% |
| Sep-2011 | 1.9% | 2.0% |
| Oct-2011 | 2.1% | 1.7% |
| Nov-2011 | 2.0% | 1.8% |
| Dec-2011 | 2.0% | 1.8% |
| Jan-2012 | 1.7% | 1.4% |
| Feb-2012 | 1.9% | 1.5% |
| Mar-2012 | 2.1% | 1.7% |
| Apr-2012 | 2.0% | 1.8% |
| May-2012 | 1.8% | 1.4% |
| Jun-2012 | 2.0% | 1.5% |
| Jul-2012 | 1.8% | 1.4% |
| Aug-2012 | 1.9% | 1.3% |
| Sep-2012 | 2.0% | 1.4% |
| Oct-2012 | 1.5% | 1.3% |
| Nov-2012 | 1.9% | 1.4% |
| Dec-2012 | 2.1% | 1.6% |
| Jan-2013 | 2.2% | 1.9% |
| Feb-2013 | 2.1% | 2.0% |
| Mar-2013 | 1.9% | 1.9% |
| Apr-2013 | 2.0% | 1.7% |
| May-2013 | 2.1% | 1.9% |
| Jun-2013 | 2.2% | 2.0% |
| Jul-2013 | 1.9% | 2.0% |
| Aug-2013 | 2.2% | 2.1% |
| Sep-2013 | 2.0% | 2.2% |
| Oct-2013 | 2.2% | 2.3% |
| Nov-2013 | 2.2% | 2.3% |
| Dec-2013 | 1.9% | 2.3% |
| Jan-2014 | 2.0% | 2.2% |
| Feb-2014 | 2.1% | 2.5% |
| Mar-2014 | 2.1% | 2.3% |
| Apr-2014 | 2.0% | 2.3% |
| May-2014 | 2.1% | 2.4% |
| Jun-2014 | 2.0% | 2.3% |
| Jul-2014 | 2.0% | 2.3% |
| Aug-2014 | 2.1% | 2.5% |
| Sep-2014 | 2.0% | 2.2% |
| Oct-2014 | 2.0% | 2.2% |
Note: Wage target consistent with Federal Reserve Board's 2 percent inflation target and 1.5% labor productivity growth assumption. Light shaded area denotes recession.
Source: Authors' analysis of Bureau of Labor Statistics' Current Employment Statistics, public data series.