Recent Updates

  • US: Consumer Prices (Mar)
  • Bangladesh: CPI (Mar)
  • US: NFIB SMall Business Optimism (Mar)
  • Egypt: Steel Sales and Production (Mar), BOP (Q4-Prelim)
  • Slovenia: BOP, External Debt Liabilities (Feb)
  • more updates...

Economy in Brief

U.S. Real Earnings Growth Firms
by Tom Moeller  June 19, 2015

Growth in average hourly earnings for U.S. workers has been fairly stable for the last several years, near 2%. Through last year, that translated into a roughly unchanged level of real earnings as consumer prices continued to rise. During 2015, however, the environment is changing; the result of quicker growth in earnings and the decline in oil prices. Consumer prices in May were unchanged y/y, versus earlier growth between 1.5% and 3.0%. As a result, real earnings growth has been raised above 2%, the quickest growth since 2009. The future environment is uncertain, however, due to recent increases in the pump price of gasoline. But for now, the consumer is in better shape to spend.

The earnings and CPI data are available in Haver's USECON database.

Average Hourly Earnings (Y/Y %) - Nonfarm Workers May April 2014 2013 2012 2011
Nominal Earnings 2.3 2.2 2.1 2.1 1.9 2.0
Consumer Prices 0.0 -0.1 1.6 1.5 2.1 3.1
Real Earnings 2.2 2.3 0.4 0.6 -0.2 -1.1
large image