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Average Hourly Earnings
Average hourly earnings of all private-sector employees. A proxy for wage growth and purchasing power.
Source: FRED
Latest reading
32.2+1.14 vs last year
April 2026$32.2
$18.0$27.0$40.0$55.0
About this range
Average hourly earnings of $27–$36 reflect compensation levels that support real purchasing power relative to typical household costs. Below this range suggests stagnating worker pay; above $36/hr consistently can signal inflationary wage-price spiral pressure.
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