Nominal Wage Tracker
Key numbers on nominal wages
- Actual year-over-year growth for private employees: 3.4%
Year-over-year change in private-sector nominal average hourly earnings, 2007–2026
Nominal Wage Tracker
Year-over-year change in private-sector nominal average hourly earnings, 2007–2026
| date | All nonfarm employees | Production/nonsupervisory workers |
|---|---|---|
| Mar-2007 | 3.4% | 4.1% |
| Apr-2007 | 3.1% | 3.8% |
| May-2007 | 3.5% | 4.1% |
| Jun-2007 | 3.6% | 4.1% |
| Jul-2007 | 3.2% | 4.1% |
| Aug-2007 | 3.3% | 4.0% |
| Sep-2007 | 3.1% | 4.0% |
| Oct-2007 | 3.1% | 3.8% |
| Nov-2007 | 3.1% | 3.8% |
| Dec-2007 | 2.8% | 3.7% |
| Jan-2008 | 2.9% | 3.8% |
| Feb-2008 | 2.9% | 3.7% |
| Mar-2008 | 3.1% | 3.8% |
| Apr-2008 | 2.8% | 3.8% |
| May-2008 | 3.0% | 3.7% |
| Jun-2008 | 2.7% | 3.6% |
| Jul-2008 | 3.2% | 3.7% |
| Aug-2008 | 3.3% | 3.9% |
| Sep-2008 | 3.3% | 3.7% |
| Oct-2008 | 3.3% | 3.8% |
| Nov-2008 | 3.5% | 3.9% |
| Dec-2008 | 3.7% | 4.0% |
| Jan-2009 | 3.6% | 3.7% |
| Feb-2009 | 3.3% | 3.6% |
| Mar-2009 | 3.2% | 3.5% |
| Apr-2009 | 3.4% | 3.3% |
| May-2009 | 3.0% | 3.1% |
| Jun-2009 | 2.9% | 2.9% |
| Jul-2009 | 2.7% | 2.7% |
| Aug-2009 | 2.4% | 2.7% |
| Sep-2009 | 2.5% | 2.7% |
| Oct-2009 | 2.5% | 2.7% |
| Nov-2009 | 2.2% | 2.7% |
| Dec-2009 | 1.9% | 2.4% |
| Jan-2010 | 2.0% | 2.7% |
| Feb-2010 | 2.2% | 2.5% |
| Mar-2010 | 1.9% | 2.3% |
| Apr-2010 | 1.8% | 2.4% |
| May-2010 | 1.8% | 2.6% |
| Jun-2010 | 1.8% | 2.5% |
| Jul-2010 | 1.8% | 2.4% |
| Aug-2010 | 1.8% | 2.4% |
| Sep-2010 | 1.8% | 2.2% |
| Oct-2010 | 1.9% | 2.5% |
| Nov-2010 | 1.7% | 2.2% |
| Dec-2010 | 1.7% | 2.1% |
| Jan-2011 | 2.1% | 2.4% |
| Feb-2011 | 1.8% | 2.1% |
| Mar-2011 | 1.8% | 2.0% |
| 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% | 1.9% |
| Sep-2011 | 1.9% | 2.0% |
| Oct-2011 | 2.0% | 1.8% |
| Nov-2011 | 2.0% | 1.8% |
| Dec-2011 | 2.0% | 1.8% |
| Jan-2012 | 1.7% | 1.3% |
| Feb-2012 | 1.8% | 1.4% |
| Mar-2012 | 2.1% | 1.8% |
| Apr-2012 | 2.1% | 1.7% |
| May-2012 | 1.9% | 1.4% |
| Jun-2012 | 2.0% | 1.5% |
| Jul-2012 | 1.6% | 1.4% |
| Aug-2012 | 1.8% | 1.4% |
| Sep-2012 | 2.0% | 1.5% |
| Oct-2012 | 1.6% | 1.2% |
| Nov-2012 | 1.9% | 1.4% |
| Dec-2012 | 2.2% | 1.7% |
| Jan-2013 | 2.1% | 1.7% |
| Feb-2013 | 2.1% | 2.1% |
| Mar-2013 | 1.9% | 1.9% |
| Apr-2013 | 2.1% | 1.8% |
| May-2013 | 2.1% | 1.9% |
| Jun-2013 | 2.1% | 2.1% |
| Jul-2013 | 2.1% | 2.0% |
| Aug-2013 | 2.3% | 2.2% |
| Sep-2013 | 2.1% | 2.2% |
| Oct-2013 | 2.2% | 2.3% |
| Nov-2013 | 2.2% | 2.4% |
| Dec-2013 | 1.9% | 2.2% |
| Jan-2014 | 2.0% | 2.3% |
| Feb-2014 | 2.3% | 2.6% |
| Mar-2014 | 2.1% | 2.4% |
| Apr-2014 | 2.0% | 2.3% |
| May-2014 | 2.1% | 2.4% |
| Jun-2014 | 2.1% | 2.3% |
| Jul-2014 | 2.1% | 2.3% |
| Aug-2014 | 2.2% | 2.4% |
| Sep-2014 | 2.1% | 2.1% |
| Oct-2014 | 2.1% | 2.2% |
| Nov-2014 | 2.1% | 2.3% |
| Dec-2014 | 1.9% | 1.8% |
| Jan-2015 | 2.1% | 2.0% |
| Feb-2015 | 1.9% | 1.6% |
| Mar-2015 | 2.2% | 2.0% |
| Apr-2015 | 2.3% | 2.0% |
| May-2015 | 2.3% | 2.2% |
| Jun-2015 | 2.1% | 1.9% |
| Jul-2015 | 2.2% | 2.0% |
| Aug-2015 | 2.3% | 2.2% |
| Sep-2015 | 2.2% | 2.1% |
| Oct-2015 | 2.5% | 2.4% |
| Nov-2015 | 2.4% | 2.1% |
| Dec-2015 | 2.5% | 2.5% |
| Jan-2016 | 2.5% | 2.5% |
| Feb-2016 | 2.4% | 2.4% |
| Mar-2016 | 2.4% | 2.3% |
| Apr-2016 | 2.6% | 2.6% |
| May-2016 | 2.4% | 2.4% |
| Jun-2016 | 2.6% | 2.5% |
| Jul-2016 | 2.7% | 2.6% |
| Aug-2016 | 2.4% | 2.3% |
| Sep-2016 | 2.6% | 2.5% |
| Oct-2016 | 2.8% | 2.5% |
| Nov-2016 | 2.6% | 2.4% |
| Dec-2016 | 2.7% | 2.5% |
| Jan-2017 | 2.5% | 2.4% |
| Feb-2017 | 2.7% | 2.4% |
| Mar-2017 | 2.6% | 2.3% |
| Apr-2017 | 2.5% | 2.2% |
| May-2017 | 2.5% | 2.3% |
| Jun-2017 | 2.5% | 2.3% |
| Jul-2017 | 2.6% | 2.3% |
| Aug-2017 | 2.6% | 2.3% |
| Sep-2017 | 2.8% | 2.6% |
| Oct-2017 | 2.3% | 2.2% |
| Nov-2017 | 2.5% | 2.3% |
| Dec-2017 | 2.7% | 2.4% |
| Jan-2018 | 2.8% | 2.5% |
| Feb-2018 | 2.6% | 2.6% |
| Mar-2018 | 2.8% | 2.8% |
| Apr-2018 | 2.8% | 2.8% |
| May-2018 | 2.9% | 2.9% |
| Jun-2018 | 2.9% | 2.9% |
| Jul-2018 | 2.8% | 2.9% |
| Aug-2018 | 3.2% | 3.1% |
| Sep-2018 | 3.1% | 3.1% |
| Oct-2018 | 3.3% | 3.2% |
| Nov-2018 | 3.4% | 3.5% |
| Dec-2018 | 3.5% | 3.7% |
| Jan-2019 | 3.3% | 3.4% |
| Feb-2019 | 3.6% | 3.5% |
| Mar-2019 | 3.4% | 3.6% |
| Apr-2019 | 3.3% | 3.5% |
| May-2019 | 3.3% | 3.5% |
| Jun-2019 | 3.5% | 3.6% |
| Jul-2019 | 3.4% | 3.7% |
| Aug-2019 | 3.4% | 3.6% |
| Sep-2019 | 3.1% | 3.6% |
| Oct-2019 | 3.2% | 3.8% |
| Nov-2019 | 3.3% | 3.6% |
| Dec-2019 | 3.0% | 3.2% |
| Jan-2020 | 3.0% | 3.4% |
| Feb-2020 | 3.1% | 3.6% |
| Mar-2020 | 3.5% | 3.6% |
| Apr-2020 | 8.1% | 7.8% |
| May-2020 | 6.6% | 6.8% |
| Jun-2020 | 5.0% | 5.5% |
| Jul-2020 | 4.9% | 4.9% |
| Aug-2020 | 4.8% | 5.0% |
| Sep-2020 | 4.8% | 4.8% |
| Oct-2020 | 4.6% | 4.6% |
| Nov-2020 | 4.6% | 4.7% |
| Dec-2020 | 5.4% | 5.5% |
| Jan-2021 | 5.3% | 5.2% |
| Feb-2021 | 5.3% | 5.1% |
| Mar-2021 | 4.5% | 5.0% |
| Apr-2021 | 0.6% | 1.5% |
| May-2021 | 2.3% | 2.8% |
| Jun-2021 | 3.9% | 4.2% |
| Jul-2021 | 4.3% | 5.2% |
| Aug-2021 | 4.4% | 5.3% |
| Sep-2021 | 5.0% | 6.0% |
| Oct-2021 | 5.4% | 6.5% |
| Nov-2021 | 5.4% | 6.5% |
| Dec-2021 | 4.9% | 6.4% |
| Jan-2022 | 5.6% | 7.0% |
| Feb-2022 | 5.3% | 6.8% |
| Mar-2022 | 5.9% | 7.0% |
| Apr-2022 | 5.8% | 6.9% |
| May-2022 | 5.6% | 6.7% |
| Jun-2022 | 5.4% | 6.6% |
| Jul-2022 | 5.5% | 6.5% |
| Aug-2022 | 5.4% | 6.2% |
| Sep-2022 | 5.1% | 6.0% |
| Oct-2022 | 5.0% | 5.8% |
| Nov-2022 | 5.1% | 5.8% |
| Dec-2022 | 4.9% | 5.5% |
| Jan-2023 | 4.5% | 5.2% |
| Feb-2023 | 4.8% | 5.4% |
| Mar-2023 | 4.6% | 5.4% |
| Apr-2023 | 4.6% | 5.2% |
| May-2023 | 4.4% | 5.0% |
| Jun-2023 | 4.7% | 5.0% |
| Jul-2023 | 4.7% | 4.9% |
| Aug-2023 | 4.5% | 4.7% |
| Sep-2023 | 4.4% | 4.7% |
| Oct-2023 | 4.2% | 4.5% |
| Nov-2023 | 4.1% | 4.5% |
| Dec-2023 | 4.1% | 4.4% |
| Jan-2024 | 4.4% | 4.6% |
| Feb-2024 | 4.1% | 4.4% |
| Mar-2024 | 4.1% | 4.3% |
| Apr-2024 | 4.0% | 4.0% |
| May-2024 | 4.1% | 4.1% |
| Jun-2024 | 3.9% | 4.1% |
| Jul-2024 | 3.6% | 4.0% |
| Aug-2024 | 3.9% | 4.2% |
| Sep-2024 | 3.9% | 4.1% |
| Oct-2024 | 4.0% | 4.2% |
| Nov-2024 | 4.2% | 4.1% |
| Dec-2024 | 4.1% | 4.0% |
| Jan-2025 | 4.0% | 4.0% |
| Feb-2025 | 4.1% | 4.1% |
| Mar-2025 | 4.2% | 4.2% |
| Apr-2025 | 3.9% | 4.2% |
| May-2025 | 4.0% | 4.1% |
| Jun-2025 | 3.9% | 4.1% |
| Jul-2025 | 4.0% | 4.1% |
| Aug-2025 | 4.0% | 4.0% |
| Sep-2025 | 3.8% | 3.8% |
| Oct-2025 | 3.9% | 4.0% |
| Nov-2025 | 3.9% | 4.0% |
| Dec-2025 | 3.7% | 3.8% |
| Jan-2026 | 3.7% | 3.7% |
| Feb-2026 | 3.7% | 3.7% |
| Mar-2026 | 3.4% | 3.5% |
| Apr-2026 | 3.6% | 3.7% |
| May-2026 | 3.4% | 3.6% |
Source: EPI analysis of Bureau of Labor Statistics Current Employment Statistics public data series.
Mind the wage gap: Cumulative nominal average hourly earnings, actual and hypothetical if they had grown at 3.5% since the recession began, 2007–2026
Nominal Wage Tracker
Mind the wage gap: Cumulative nominal average hourly earnings, actual and hypothetical if they had grown at 3.5% since the recession began, 2007–2026
* 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
Workers’ share of corporate income hasn’t recovered: Share of corporate-sector income received by workers over recent business cycles, 1979–2026
Nominal Wage Tracker
Workers' share of corporate income hasn't recovered: Share of corporate-sector income received by workers over recent business cycles, 1979–2026
| date | Labor share |
|---|---|
| 1979q1 | 79.1% |
| 1979q2 | 79.5% |
| 1979q3 | 80.3% |
| 1979q4 | 80.8% |
| 1980q1 | 81.3% |
| 1980q2 | 82.8% |
| 1980q3 | 82.0% |
| 1980q4 | 80.6% |
| 1981q1 | 80.4% |
| 1981q2 | 80.4% |
| 1981q3 | 79.6% |
| 1981q4 | 80.5% |
| 1982q1 | 81.5% |
| 1982q2 | 80.9% |
| 1982q3 | 81.0% |
| 1982q4 | 81.6% |
| 1983q1 | 81.0% |
| 1983q2 | 79.9% |
| 1983q3 | 79.5% |
| 1983q4 | 79.1% |
| 1984q1 | 77.8% |
| 1984q2 | 78.0% |
| 1984q3 | 78.5% |
| 1984q4 | 78.4% |
| 1985q1 | 78.5% |
| 1985q2 | 78.7% |
| 1985q3 | 78.4% |
| 1985q4 | 79.8% |
| 1986q1 | 80.1% |
| 1986q2 | 81.0% |
| 1986q3 | 81.7% |
| 1986q4 | 82.0% |
| 1987q1 | 82.0% |
| 1987q2 | 81.2% |
| 1987q3 | 80.7% |
| 1987q4 | 81.2% |
| 1988q1 | 81.2% |
| 1988q2 | 81.2% |
| 1988q3 | 81.1% |
| 1988q4 | 80.4% |
| 1989q1 | 80.9% |
| 1989q2 | 81.1% |
| 1989q3 | 81.2% |
| 1989q4 | 82.2% |
| 1990q1 | 82.1% |
| 1990q2 | 81.9% |
| 1990q3 | 82.9% |
| 1990q4 | 83.4% |
| 1991q1 | 82.4% |
| 1991q2 | 82.7% |
| 1991q3 | 83.1% |
| 1991q4 | 83.6% |
| 1992q1 | 83.2% |
| 1992q2 | 83.3% |
| 1992q3 | 83.7% |
| 1992q4 | 83.2% |
| 1993q1 | 83.6% |
| 1993q2 | 82.9% |
| 1993q3 | 82.8% |
| 1993q4 | 81.6% |
| 1994q1 | 81.6% |
| 1994q2 | 81.4% |
| 1994q3 | 80.8% |
| 1994q4 | 80.5% |
| 1995q1 | 80.8% |
| 1995q2 | 80.5% |
| 1995q3 | 79.7% |
| 1995q4 | 79.8% |
| 1996q1 | 79.3% |
| 1996q2 | 79.2% |
| 1996q3 | 79.4% |
| 1996q4 | 79.5% |
| 1997q1 | 79.1% |
| 1997q2 | 79.0% |
| 1997q3 | 78.4% |
| 1997q4 | 78.7% |
| 1998q1 | 79.8% |
| 1998q2 | 80.1% |
| 1998q3 | 80.0% |
| 1998q4 | 80.6% |
| 1999q1 | 80.4% |
| 1999q2 | 80.7% |
| 1999q3 | 81.1% |
| 1999q4 | 81.5% |
| 2000q1 | 81.8% |
| 2000q2 | 82.0% |
| 2000q3 | 82.5% |
| 2000q4 | 83.2% |
| 2001q1 | 83.2% |
| 2001q2 | 82.9% |
| 2001q3 | 83.1% |
| 2001q4 | 84.1% |
| 2002q1 | 82.3% |
| 2002q2 | 82.0% |
| 2002q3 | 81.8% |
| 2002q4 | 80.8% |
| 2003q1 | 80.3% |
| 2003q2 | 80.2% |
| 2003q3 | 79.8% |
| 2003q4 | 79.9% |
| 2004q1 | 78.7% |
| 2004q2 | 78.6% |
| 2004q3 | 78.5% |
| 2004q4 | 78.4% |
| 2005q1 | 77.1% |
| 2005q2 | 76.8% |
| 2005q3 | 76.9% |
| 2005q4 | 75.7% |
| 2006q1 | 75.3% |
| 2006q2 | 75.2% |
| 2006q3 | 74.6% |
| 2006q4 | 75.9% |
| 2007q1 | 77.2% |
| 2007q2 | 76.7% |
| 2007q3 | 78.0% |
| 2007q4 | 79.0% |
| 2008q1 | 79.5% |
| 2008q2 | 79.5% |
| 2008q3 | 79.8% |
| 2008q4 | 83.6% |
| 2009q1 | 79.8% |
| 2009q2 | 79.4% |
| 2009q3 | 78.4% |
| 2009q4 | 77.4% |
| 2010q1 | 76.3% |
| 2010q2 | 76.8% |
| 2010q3 | 74.8% |
| 2010q4 | 74.9% |
| 2011q1 | 77.1% |
| 2011q2 | 75.9% |
| 2011q3 | 76.0% |
| 2011q4 | 74.2% |
| 2012q1 | 73.9% |
| 2012q2 | 74.1% |
| 2012q3 | 74.4% |
| 2012q4 | 75.1% |
| 2013q1 | 74.7% |
| 2013q2 | 75.0% |
| 2013q3 | 75.1% |
| 2013q4 | 74.8% |
| 2014q1 | 76.0% |
| 2014q2 | 74.1% |
| 2014q3 | 73.3% |
| 2014q4 | 73.7% |
| 2015q1 | 74.2% |
| 2015q2 | 74.3% |
| 2015q3 | 74.9% |
| 2015q4 | 75.3% |
| 2016q1 | 74.9% |
| 2016q2 | 75.4% |
| 2016q3 | 75.4% |
| 2016q4 | 75.6% |
| 2017q1 | 75.9% |
| 2017q2 | 75.9% |
| 2017q3 | 76.3% |
| 2017q4 | 76.1% |
| 2018q1 | 75.8% |
| 2018q2 | 75.3% |
| 2018q3 | 75.2% |
| 2018q4 | 75.4% |
| 2019q1 | 76.0% |
| 2019q2 | 76.0% |
| 2019q3 | 75.5% |
| 2019q4 | 75.5% |
| 2020q1 | 77.8% |
| 2020q2 | 77.3% |
| 2020q3 | 72.9% |
| 2020q4 | 75.2% |
| 2021q1 | 73.4% |
| 2021q2 | 71.7% |
| 2021q3 | 72.3% |
| 2021q4 | 72.6% |
| 2022q1 | 73.2% |
| 2022q2 | 72.0% |
| 2022q3 | 71.7% |
| 2022q4 | 71.5% |
| 2023q1 | 71.2% |
| 2023q2 | 71.5% |
| 2023q3 | 71.1% |
| 2023q4 | 70.7% |
| 2024q1 | 71.5% |
| 2024q2 | 71.4% |
| 2024q3 | 71.5% |
| 2024q4 | 71.6% |
| 2025q1 | 72.2% |
| 2025q2 | 72.0% |
| 2025q3 | 71.8% |
| 2025q4 | 71.7% |
| 2026q1 | 71.3% |
Notes: Shaded areas denote recessions. Federal Reserve banks’ corporate profits were netted out in the calculation of labor share.
Source: EPI analysis of Bureau of Economic Analysis National Income and Product Accounts (Tables 1.14 and 6.16D)