Average Hourly Earnings (YoY)

The Average Hourly Earning released by the US Bureau of Labor Statistics is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

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Most recent - Friday 1 August 2025 12:30

3.8%

Revised

3.8%

Forecast

3.8%

Actual

3.9%

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Next event - Friday 5 September 2025 12:30

Forecast

Actual

The typical/expected impact on USD pairs is high.

There is no forecast value for Average Hourly Earnings (YoY) yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Average Hourly Earnings (YoY) was 3.9% against a forecast of 3.8%.

Past events

Date

Forecast

Actual

Friday 1 August 2025 12:30

3.8%

3.9%

Thursday 3 July 2025 12:30

3.9%

3.7%

Friday 6 June 2025 12:30

3.7%

3.9%

Friday 2 May 2025 12:30

3.9%

3.8%

Friday 4 April 2025 12:30

3.9%

3.8%

Friday 7 March 2025 13:30

4.1%

Friday 7 February 2025 13:30

3.8%

4.1%

Friday 10 January 2025 13:30

3.9%

Friday 6 December 2024 13:30

3.9%

Friday 1 November 2024 12:30

Friday 4 October 2024 12:30

3.8%

Friday 6 September 2024 12:30

3.7%

3.8%

Friday 2 August 2024 12:30

3.7%

3.6%

Friday 5 July 2024 12:30

3.9%

Friday 7 June 2024 12:30

3.9%

4.1%

Friday 3 May 2024 12:30

3.9%

Friday 5 April 2024 12:30

4.1%

Friday 8 March 2024 13:30

4.4%

4.3%

Friday 2 February 2024 13:30

4.1%

4.5%

Friday 5 January 2024 13:30

3.9%

4.1%

Friday 8 December 2023 13:30

Friday 3 November 2023 12:30

4.1%

Friday 6 October 2023 12:30

4.3%

4.2%

Friday 1 September 2023 12:30

4.4%

4.3%

Friday 4 August 2023 12:30

4.2%

4.4%

Friday 7 July 2023 12:30

4.2%

4.4%

Friday 2 June 2023 12:30

4.4%

4.3%

Friday 5 May 2023 12:30

4.2%

4.4%

Friday 7 April 2023 12:30

4.3%

4.2%

Friday 10 March 2023 13:30

4.7%

4.6%

Friday 3 February 2023 13:30

4.9%

4.4%

Friday 6 January 2023 13:30

4.6%

Friday 2 December 2022 13:30

4.6%

5.1%

Friday 4 November 2022 12:30

4.7%

Friday 7 October 2022 12:30

5.1%

Friday 2 September 2022 12:30

5.3%

5.2%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Average Hourly Earnings (YoY) result:

		Previous	Latest
Building Permits (MoM)	Bearish change	1.393M	1.354M
Housing Starts (MoM)	Bullish change	1.321M	1.428M
UoM 1-year Consumer Inflation Expectations	Bullish change	4.5%	4.9%
UoM 5-year Consumer Inflation Expectation	Bullish change	3.4%	3.9%
Michigan Consumer Expectations Index	Bearish change	57.7	57.2
Michigan Consumer Sentiment Index	Bearish change	61.7	58.6
Industrial Production (MoM)	Bearish change	0.4%	-0.1%
NY Empire State Manufacturing Index	Bullish change	5.5	11.9
Retail Sales (MoM)	Bearish change	0.9%	0.5%
Retail Sales Control Group	Bearish change	0.8%	0.5%
Retail Sales ex Autos (MoM)	Bearish change	0.8%	0.3%
Initial Jobless Claims	Bullish change	227K	224K
Producer Price Index (MoM)	Bullish change	0%	0.9%
Producer Price Index (YoY)	Bullish change	2.4%	3.3%
Producer Price Index ex Food & Energy (MoM)	Bullish change	0%	0.9%
Producer Price Index ex Food & Energy (YoY)	Bullish change	2.6%	3.7%
Monthly Budget Statement	Bearish change	$27B	$-291B
Consumer Price Index (MoM)	Bearish change	0.3%	0.2%
Consumer Price Index (YoY)	(no change)	2.7%	2.7%
Consumer Price Index ex Food & Energy (MoM)	Bullish change	0.2%	0.3%
Consumer Price Index ex Food & Energy (YoY)	Bullish change	2.9%	3.1%
Initial Jobless Claims	Bearish change	218K	226K
Nonfarm Productivity	Bullish change	-1.8%	2.4%
Unit Labor Costs	Bearish change	6.9%	1.6%

About Average Hourly Earnings (YoY)

Country:	United States
Currency:	USD
Source:	US Bureau of Labor Statistics
Category:	Labor Market
Frequency:	Monthly

Related events

	Australia		Unemployment Rate s.a.
	Australia		Employment Change s.a.
	Canada		Unemployment Rate
	Canada		Net Change in Employment
	New Zealand		Unemployment Rate
	New Zealand		Employment Change
	United Kingdom		Employment Change
	United Kingdom		ILO Unemployment Rate (3M)
	United Kingdom		Claimant Count Change
	United States		Nonfarm Payrolls
	United States		ADP Employment Change
	United States		Average Hourly Earnings (MoM)
	Australia		Wage Price Index (QoQ)
	Australia		Part-Time Employment
	Australia		Participation Rate
	Australia		Full-Time Employment
	Canada		Average Hourly Wages (YoY)
	Germany		Unemployment Change
	Germany		Unemployment Rate s.a.
	Eurozone		Unemployment Rate
	Eurozone		Employment Change (QoQ)
	Japan		Labor Cash Earnings (YoY)
	Japan		Unemployment Rate
	New Zealand		Participation Rate
	New Zealand		Labour Cost Index (QoQ)
	United Kingdom		Claimant Count Rate
	United Kingdom		Average Earnings Including Bonus (3Mo/Yr)
	United Kingdom		Average Earnings Excluding Bonus (3Mo/Yr)
	United States		ISM Manufacturing Employment Index
	United States		Unit Labor Costs
	United States		Personal Income (MoM)
	United States		Nonfarm Payrolls Benchmark Revision
	United States		ISM Services Employment Index
	United States		Unemployment Rate
	United States		Nonfarm Productivity
	United States		JOLTS Job Openings
	United States		Initial Jobless Claims
	United States		Challenger Job Cuts
	United States		Labor Force Participation Rate
	United States		U6 Underemployment Rate
	United States		Employment Cost Index

Calendar - Average Hourly Earnings (YoY) - United States

Average Hourly Earnings (YoY)

Most recent - Friday 1 August 2025 12:30

Next event - Friday 5 September 2025 12:30

Trading range

Trading range after each Average Hourly Earnings (YoY) event

Forecast history

Past events

Economic context

About Average Hourly Earnings (YoY)

Related events