Nominal wage growth has been far below target in the recovery: Year-over-year change in private-sector nominal average hourly earnings, 2007–2015
| All nonfarm employees | Production/nonsupervisory workers | |
|---|---|---|
| Mar-2007 | 3.6427146% | 4.1112455% |
| Apr-2007 | 3.3234127% | 3.8461538% |
| May-2007 | 3.7257824% | 4.1441441% |
| Jun-2007 | 3.8575668% | 4.1267943% |
| Jul-2007 | 3.4482759% | 4.0524434% |
| Aug-2007 | 3.5433071% | 4.0404040% |
| Sep-2007 | 3.2337090% | 4.1493776% |
| Oct-2007 | 3.2778865% | 3.7780401% |
| Nov-2007 | 3.3203125% | 3.8869258% |
| Dec-2007 | 3.1113272% | 3.8123167% |
| Jan-2008 | 3.1067961% | 3.8619075% |
| Feb-2008 | 3.0464217% | 3.7296037% |
| Mar-2008 | 3.0332210% | 3.7746806% |
| Apr-2008 | 2.8324532% | 3.7037037% |
| May-2008 | 3.0172414% | 3.6908881% |
| Jun-2008 | 2.6666667% | 3.6186100% |
| Jul-2008 | 3.0000000% | 3.7227950% |
| Aug-2008 | 3.2794677% | 3.8263849% |
| Sep-2008 | 3.2747983% | 3.6425726% |
| Oct-2008 | 3.3159640% | 3.9249147% |
| Nov-2008 | 3.5916824% | 3.8548753% |
| Dec-2008 | 3.6303630% | 3.8418079% |
| Jan-2009 | 3.5310734% | 3.7183099% |
| Feb-2009 | 3.4725481% | 3.6516854% |
| Mar-2009 | 3.1775701% | 3.5254617% |
| Apr-2009 | 3.2212885% | 3.2924107% |
| May-2009 | 2.8358903% | 3.0589544% |
| Jun-2009 | 2.7365492% | 2.9379157% |
| Jul-2009 | 2.5889968% | 2.7056875% |
| Aug-2009 | 2.4390244% | 2.6402640% |
| Sep-2009 | 2.2977941% | 2.7457441% |
| Oct-2009 | 2.3383769% | 2.6272578% |
| Nov-2009 | 2.0529197% | 2.6746725% |
| Dec-2009 | 1.8198362% | 2.5027203% |
| Jan-2010 | 1.9554343% | 2.6072787% |
| Feb-2010 | 1.8140590% | 2.4932249% |
| Mar-2010 | 1.7663043% | 2.2702703% |
| Apr-2010 | 1.7639077% | 2.4311183% |
| May-2010 | 1.8987342% | 2.5903940% |
| Jun-2010 | 1.7607223% | 2.4771136% |
| Jul-2010 | 1.8476791% | 2.4731183% |
| Aug-2010 | 1.7070979% | 2.4115756% |
| Sep-2010 | 1.8867925% | 2.2447889% |
| Oct-2010 | 1.8817204% | 2.5066667% |
| Nov-2010 | 1.6540009% | 2.1796917% |
| Dec-2010 | 1.7426273% | 2.0169851% |
| Jan-2011 | 1.9625335% | 2.2233986% |
| Feb-2011 | 1.8262806% | 2.1152829% |
| Mar-2011 | 1.8246551% | 2.1141649% |
| Apr-2011 | 1.9111111% | 2.1097046% |
| May-2011 | 2.0408163% | 2.1041557% |
| Jun-2011 | 2.1295475% | 2.0493957% |
| Jul-2011 | 2.2566372% | 2.2560336% |
| Aug-2011 | 1.9434629% | 1.9884877% |
| Sep-2011 | 1.9400353% | 1.9864088% |
| Oct-2011 | 2.1108179% | 1.7169615% |
| Nov-2011 | 2.0228672% | 1.8210198% |
| Dec-2011 | 1.9762846% | 1.8210198% |
| Jan-2012 | 1.7060367% | 1.3982393% |
| Feb-2012 | 1.9247594% | 1.5018125% |
| Mar-2012 | 2.1416084% | 1.7080745% |
| Apr-2012 | 2.0497165% | 1.7561983% |
| May-2012 | 1.7826087% | 1.4425554% |
| Jun-2012 | 1.9548219% | 1.5447992% |
| Jul-2012 | 1.7741238% | 1.3853258% |
| Aug-2012 | 1.8630849% | 1.3340174% |
| Sep-2012 | 1.9896194% | 1.3839057% |
| Oct-2012 | 1.4642550% | 1.2787724% |
| Nov-2012 | 1.8965517% | 1.4307614% |
| Dec-2012 | 2.1102498% | 1.6351559% |
| Jan-2013 | 2.1505376% | 1.8896834% |
| Feb-2013 | 2.1030043% | 2.0408163% |
| Mar-2013 | 1.8827557% | 1.8829517% |
| Apr-2013 | 1.9658120% | 1.7258883% |
| May-2013 | 2.0504058% | 1.8791265% |
| Jun-2013 | 2.1729868% | 2.0283976% |
| Jul-2013 | 1.9132653% | 1.9736842% |
| Aug-2013 | 2.2118248% | 2.1265823% |
| Sep-2013 | 2.0356234% | 2.1739130% |
| Oct-2013 | 2.2495756% | 2.2727273% |
| Nov-2013 | 2.1573604% | 2.2670025% |
| Dec-2013 | 1.9401097% | 2.3127200% |
| Jan-2014 | 1.9789474% | 2.2055138% |
| Feb-2014 | 2.1017234% | 2.4500000% |
| Mar-2014 | 2.1419572% | 2.2977023% |
| Apr-2014 | 1.9698240% | 2.2954092% |
| May-2014 | 2.0510674% | 2.3928215% |
| Jun-2014 | 1.9599666% | 2.2862823% |
| Jul-2014 | 2.0442219% | 2.2828784% |
| Aug-2014 | 2.1223471% | 2.4789291% |
| Sep-2014 | 1.9950125% | 2.2761009% |
| Oct-2014 | 1.9510170% | 2.2222222% |
| Nov-2014 | 1.9461698% | 2.1674877% |
| Dec-2014 | 1.6549441% | 1.6216216% |
| Jan-2015 | 2.1982742% | 1.9607843% |
* Nominal wage growth consistent with the Federal Reserve Board's 2 percent inflation target, 1.5 percent productivity growth, and a stable labor share of income.
Source: EPI analysis of Bureau of Labor Statistics Current Employment Statistics public data series