Definition
The average pay per hour for workers on US payrolls, reported with the jobs report.
The story
If your raise beats the rise in prices, you're getting ahead. For the Fed it cuts both ways: pay rising fast helps workers, but it can also keep companies raising prices to cover their costs. That's why a strong wage number can rattle markets even on a good jobs day.
Why markets watch it
It's a read on wage pressure, one of the forces that can keep inflation high.
IN HISTORICAL DATA
Latest Jobs reports: Fri, Oct 2, 2026 · Below
- Actual vs forecast
- +29K vs +90K
- S&P 500
- +0.7%
- Nasdaq
- +1.14%
- Gold
- Spot -0.8% to -1.1%
History, not a prediction. Every row lists its sources.
All Jobs reports →Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms