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 September 2023 12:30

4.4%

Revised

Forecast

4.4%

Actual

4.3%

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

Next event - Friday 6 October 2023 12:30

4.3%

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 4.3% against a forecast of 4.4%.

Past events

Date

Forecast

Actual

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%

Friday 5 August 2022 12:30

4.9%

5.2%

Friday 8 July 2022 12:30

5.1%

Friday 3 June 2022 12:30

5.2%

Friday 6 May 2022 12:30

5.5%

Friday 1 April 2022 12:30

5.5%

5.6%

Friday 4 March 2022 13:30

5.8%

5.1%

Friday 4 February 2022 13:30

5.2%

5.7%

Friday 7 January 2022 13:30

4.2%

4.7%

Friday 3 December 2021 13:30

4.8%

Friday 5 November 2021 12:30

4.8%

4.9%

Friday 8 October 2021 12:30

4.6%

Friday 3 September 2021 12:30

4.3%

Friday 6 August 2021 12:30

3.8%

Friday 2 July 2021 12:30

3.7%

3.6%

Friday 4 June 2021 12:30

-0.4%

Friday 7 May 2021 12:30

-0.4%

0.3%

Friday 2 April 2021 12:30

4.5%

4.2%

Friday 5 March 2021 13:30

5.3%

Friday 5 February 2021 13:30

5.1%

5.4%

Friday 8 January 2021 13:30

4.4%

5.1%

Friday 4 December 2020 13:30

4.3%

4.4%

Friday 6 November 2020 13:30

4.6%

4.5%

Friday 2 October 2020 12:30

4.8%

4.7%

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
S&P Global Composite PMI	Bearish change	50.2	50.1
S&P Global Manufacturing PMI	Bullish change	47.9	48.9
S&P Global Services PMI	Bearish change	50.5	50.2
Existing Home Sales Change (MoM)	Bullish change	-2.2%	-0.7%
Initial Jobless Claims	Bullish change	221K	201K
Philadelphia Fed Manufacturing Survey	Bearish change	12	-13.5
Fed Interest Rate Decision	(no change)	5.5%	5.5%
Interest Rate Projections - 1st year	Bullish change	4.6%	5.1%
Interest Rate Projections - 2nd year	Bullish change	3.4%	3.9%
Interest Rate Projections - 3rd year	Bearish change	3.1%	2.9%
Interest Rate Projections - Current	(no change)	5.6%	5.6%
Interest Rate Projections - Longer	(no change)	2.5%	2.5%
Building Permits (MoM)	Bullish change	1.443M	1.543M
Housing Starts (MoM)	Bearish change	1.447M	1.283M
Michigan Consumer Sentiment Index	Bearish change	69.5	67.7
UoM 5-year Consumer Inflation Expectation	Bearish change	3%	2.7%
Industrial Production (MoM)	Bearish change	0.7%	0.4%
NY Empire State Manufacturing Index	Bullish change	-19	1.9
Initial Jobless Claims	Bearish change	217K	220K
Producer Price Index (MoM)	Bullish change	0.4%	0.7%
Producer Price Index (YoY)	Bullish change	0.8%	1.6%
Producer Price Index ex Food & Energy (MoM)	Bearish change	0.4%	0.2%
Producer Price Index ex Food & Energy (YoY)	Bearish change	2.4%	2.2%
Retail Sales (MoM)	Bullish change	0.5%	0.6%
Retail Sales Control Group	Bearish change	0.7%	0.1%
Retail Sales ex Autos (MoM)	Bearish change	0.7%	0.6%
Monthly Budget Statement	Bullish change	$-221B	$89B
Consumer Price Index (MoM)	Bullish change	0.2%	0.6%
Consumer Price Index (YoY)	Bullish change	3.2%	3.7%
Consumer Price Index ex Food & Energy (MoM)	Bullish change	0.2%	0.3%
Consumer Price Index ex Food & Energy (YoY)	Bearish change	4.7%	4.3%

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
	Australia		Wage Price Index (QoQ)
	Australia		Full-Time Employment
	Canada		Participation Rate
	Canada		Average Hourly Wages (YoY)
	Switzerland		Unemployment Rate s.a (MoM)
	Germany		Unemployment Change
	Germany		Unemployment Rate s.a.
	Eurozone		Labor Cost
	Eurozone		Unemployment Rate
	Italy		Unemployment
	Japan		Jobs / Applicants Ratio
	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		ISM Services Employment Index
	United States		Unemployment Rate
	United States		Nonfarm Productivity
	United States		Initial Jobless Claims
	United States		Labor Force Participation Rate
	United States		U6 Underemployment Rate
	United States		Initial Jobless Claims 4-week average
	United States		Average Hourly Earnings (MoM)

Calendar - Average Hourly Earnings (YoY) - United States

Average Hourly Earnings (YoY)

Most recent - Friday 1 September 2023 12:30

Next event - Friday 6 October 2023 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