3-Month Moving Average of Unweighted Unchanged Hourly Wage Growth: Overall
FRBATLWGT3MMAUUHWGO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.80
Year-over-Year Change
7.81%
Date Range
3/1/1997 - 7/1/2025
Summary
The 3-Month Moving Average of Unweighted Unchanged Hourly Wage Growth: Overall tracks changes in hourly wages for employees whose wages did not change over the past three months. This metric provides insight into underlying wage dynamics and inflationary pressures.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic trend measures the 3-month moving average of the year-over-year percent change in hourly wages for workers whose wages remained unchanged over the past three months. It offers a perspective on core wage growth, distinct from the overall average wage growth which can be impacted by compositional shifts in the labor force.
Methodology
The data is calculated from the Bureau of Labor Statistics' Current Employment Statistics survey.
Historical Context
This metric is closely monitored by the Federal Reserve and other policymakers to assess labor market conditions and inflationary pressures.
Key Facts
- The average wage growth for unchanged-wage workers was 4.7% in 2022.
- This metric tends to be less volatile than overall wage growth.
- Stable wage growth is a key factor in the Federal Reserve's inflation targeting
FAQs
Q: What does this economic trend measure?
A: This trend measures the 3-month moving average of the year-over-year percent change in hourly wages for workers whose wages remained unchanged over the past three months.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into underlying wage dynamics and inflationary pressures, distinct from overall average wage growth which can be impacted by labor force composition changes.
Q: How is this data collected or calculated?
A: The data is calculated from the Bureau of Labor Statistics' Current Employment Statistics survey.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by the Federal Reserve and other policymakers to assess labor market conditions and inflationary pressures.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, 3-Month Moving Average of Unweighted Unchanged Hourly Wage Growth: Overall (FRBATLWGT3MMAUUHWGO), retrieved from FRED.