The trend since 2019.
The current read: Average Hourly Earnings YoY is at 3.52% as of June 2026. Source: FRED/BEA via Indicators IQ.
Why it matters.
Slower wage growth means your paycheck isn't keeping pace with inflation like it did a few years ago, which pinches your purchasing power and savings rate. For mortgage holders, this matters because it affects how much of your income goes to debt service while rates remain elevated.
Where it fits.
Average Hourly Earnings YoY feeds the Jobs & Labor view — one of the six areas behind the site's Macro IQ score.