Nominal Wage Series
Quarterly wage series, 2000Q1–2014Q3
| Average hourly earnings of production/nonsupervisory workers | Average hourly earnings of all private employees | CPS-ORG median* | ECI, wages and salaries, all private workers | ECEC, wages and salaries, all private workers | |
|---|---|---|---|---|---|
| Jan-2000 | 3.7% | ||||
| Apr-2000 | 3.8% | ||||
| Jul-2000 | 3.8% | ||||
| Oct-2000 | 4.2% | ||||
| Jan-2001 | 4.1% | ||||
| Apr-2001 | 4.0% | ||||
| Jul-2001 | 3.7% | ||||
| Oct-2001 | 3.3% | ||||
| Jan-2002 | 3.0% | 3.5% | |||
| Apr-2002 | 2.7% | 3.6% | |||
| Jul-2002 | 2.9% | 3.1% | |||
| Oct-2002 | 3.1% | 2.6% | |||
| Jan-2003 | 3.2% | 2.9% | |||
| Apr-2003 | 2.9% | 2.4% | |||
| Jul-2003 | 2.6% | 2.9% | |||
| Oct-2003 | 2.0% | 3.1% | |||
| Jan-2004 | 1.7% | 2.6% | |||
| Apr-2004 | 2.0% | 2.8% | |||
| Jul-2004 | 2.1% | 2.6% | |||
| Oct-2004 | 2.5% | 2.6% | |||
| Jan-2005 | 2.6% | 2.7% | 3.1% | ||
| Apr-2005 | 2.6% | 2.5% | 3.0% | ||
| Jul-2005 | 2.7% | 2.3% | 1.6% | ||
| Oct-2005 | 3.0% | 2.5% | 2.9% | ||
| Jan-2006 | 3.4% | 2.5% | 3.4% | ||
| Apr-2006 | 3.9% | 2.8% | 3.3% | ||
| Jul-2006 | 4.1% | 3.1% | 4.7% | ||
| Oct-2006 | 4.1% | 3.2% | 3.4% | ||
| Jan-2007 | 4.1% | 3.5% | 3.4% | ||
| Apr-2007 | 4.0% | 3.6% | 3.4% | 3.1% | |
| Jul-2007 | 4.1% | 3.4% | 3.3% | 2.1% | |
| Oct-2007 | 3.8% | 3.2% | 3.3% | 3.1% | |
| Jan-2008 | 3.8% | 3.1% | 3.2% | 3.1% | |
| Apr-2008 | 3.7% | 2.8% | 3.1% | 3.3% | |
| Jul-2008 | 3.7% | 3.2% | 2.9% | 3.9% | |
| Oct-2008 | 3.9% | 3.5% | 2.6% | 3.7% | |
| Jan-2009 | 3.6% | 3.4% | 1.8% | 2.0% | 2.9% |
| Apr-2009 | 3.1% | 2.9% | 1.3% | 1.6% | 2.5% |
| Jul-2009 | 2.7% | 2.4% | 1.2% | 1.4% | 1.6% |
| Oct-2009 | 2.6% | 2.1% | 1.4% | 1.4% | 0.2% |
| Jan-2010 | 2.5% | 1.8% | 1.0% | 1.5% | 0.7% |
| Apr-2010 | 2.5% | 1.8% | 0.8% | 1.6% | 0.7% |
| Jul-2010 | 2.4% | 1.8% | 0.4% | 1.6% | 1.2% |
| Oct-2010 | 2.2% | 1.8% | -0.1% | 1.7% | 1.2% |
| Jan-2011 | 2.2% | 1.9% | -0.2% | 1.6% | 1.4% |
| Apr-2011 | 2.1% | 2.0% | 0.2% | 1.6% | 1.4% |
| Jul-2011 | 2.1% | 2.0% | 0.7% | 1.7% | 1.2% |
| Oct-2011 | 1.8% | 2.0% | 0.6% | 1.6% | 2.5% |
| Jan-2012 | 1.5% | 1.9% | 0.6% | 1.9% | 2.0% |
| Apr-2012 | 1.6% | 1.9% | 1.6% | 1.8% | 2.3% |
| Jul-2012 | 1.4% | 1.9% | 1.5% | 1.8% | 2.3% |
| Oct-2012 | 1.4% | 1.8% | 1.8% | 1.8% | 0.9% |
| Jan-2013 | 1.9% | 2.0% | 2.8% | 1.7% | 1.1% |
| Apr-2013 | 1.9% | 2.1% | 2.3% | 1.9% | 1.0% |
| Jul-2013 | 2.1% | 2.1% | 2.3% | 1.9% | 0.9% |
| Oct-2013 | 2.3% | 2.1% | 2.0% | 2.0% | 2.2% |
| Jan-2014 | 2.3% | 2.1% | 1.5% | 1.7% | 2.4% |
| Apr-2014 | 2.3% | 2.0% | 0.4% | 1.9% | 2.7% |
| Jul-2014 | 2.3% | 2.0% | 0.7% | 2.2% |
Note: Wage target consistent with Fed 2% inflation target and 1.5% productivity growth assumption. CPS-ORG median is a six-month moving average.
Source: Author's analysis of Bureau of Labor Statistics' Current Establishment Survey, Current Population Survey (CPS), Total Economy Productivity (unpublished), Employment Cost Index (ECI), and Employment Costs for Employee Compensation (ECEC).
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