Average Hourly Earnings of All Employees, Total Private (CES0500000003)
Average Hourly Earnings of All Employees, Total Private — Historical Chart
Free accounts unlock full history back to 2006, plus 260+ indicators, charts, and alerts.
Sign Up FreeUnderstanding Average Hourly Earnings of All Employees, Total Private
Average Hourly Earnings of All Employees, Total Private (FRED series CES0500000003) is a monthly economic indicator measured in dollars per hour. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 2006. Values are seasonally adjusted, smoothing out predictable calendar effects so that underlying trends are easier to see.
Why it matters: Average Hourly Earnings of All Employees, Total Private is one of the indicators traders, economists, and policymakers watch within the economic complex. Analysts use it to track conditions in the US economy and to anticipate shifts in growth, inflation, and policy.
How to read it: focus on the direction and persistence of changes rather than any single monthly print. Comparing the latest value against its level a year ago, and against its long-run range since 2006, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
About This Series
The series comes from the 'Current Employment Statistics (Establishment Survey).' The source code is: CES0500000003 The Average Hourly Earnings of All Private Employees is a measure of the average hourly earnings of all private employees on a “gross” basis, including premium pay for overtime and late-shift work. These differ from wage rates in that average hourly earnings measure the actual return to a worker for a set period of time, rather than the amount contracted for a unit of work, the wage rate. This measure excludes benefits, irregular bonuses, retroactive pay, and payroll taxes paid by the employer. Average Hourly Earnings are collected in the Current Employment Statistics (CES) program and published by the BLS. It is provided on a monthly basis, so this data is used in part by macroeconomists as an initial economic indicator of current trends. Progressions in earnings specifically help policy makers understand some of the pressures driving inflation. It is important to note that this series measures the average hourly earnings of the pool of workers in each period. Thus, changes in average hourly earnings can be due to either changes in the set of workers observed in a given period, or due to changes in earnings. For instance, in recessions that lead to the disproportionate increase of unemployment in lower-wage jobs, average hourly earnings can increase due to changes in the pool of workers rather than due to the widespread increase of hourly earnings at the worker-level. For more information, see: U.S. Bureau of Labor Statistics, CES Overview (https://www.bls.gov/web/empsit/cesprog.htm) U.S. Bureau of Labor Statistics, BLS Handbook of Methods: Chapter 2. Employment, Hours, and Earnings from the Establishment Survey (https://www.bls.gov/opub/hom/pdf/ces-20110307.pdf)
Recent Data
| Date | Value ($ per Hour) | Change |
|---|---|---|
| May 1, 2026 | 37.53 | +0.12 |
| April 1, 2026 | 37.41 | +0.06 |
| March 1, 2026 | 37.35 | +0.06 |
| February 1, 2026 | 37.29 | +0.14 |
| January 1, 2026 | 37.15 | +0.13 |
| December 1, 2025 | 37.02 | +0.02 |
| November 1, 2025 | 37.00 | +0.15 |
| October 1, 2025 | 36.85 | +0.15 |
| September 1, 2025 | 36.70 | +0.08 |
| August 1, 2025 | 36.62 | +0.15 |
| July 1, 2025 | 36.47 | +0.15 |
| June 1, 2025 | 36.32 | +0.09 |
Frequently Asked Questions
What is Average Hourly Earnings of All Employees, Total Private today?
The latest value of Average Hourly Earnings of All Employees, Total Private (CES0500000003) is shown at the top of this page, along with its observation date and the change from the prior reading. Data is sourced from FRED and refreshed regularly.
How often is Average Hourly Earnings of All Employees, Total Private updated?
Average Hourly Earnings of All Employees, Total Private is reported monthly (Monthly). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising Average Hourly Earnings of All Employees, Total Private mean?
A sustained rise in Average Hourly Earnings of All Employees, Total Private signals strengthening readings in this economic measure, in dollars per hour. Whether that is positive or negative for markets depends on context — compare the move against the series’ trend and related indicators in the same category.
Where does the CES0500000003 data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID CES0500000003. History is available back to 2006.
Related Unknown Indicators
- Real Gross Domestic Product1.6
- Real gross domestic product per capita70,502
- Average Hourly Earnings of Production and Nonsupervisory Employees, Total Private32.31
- Average Weekly Hours of All Employees, Total Private34.3
- Average Weekly Hours of Production and Nonsupervisory Employees, Manufacturing41.6
- Average Weekly Overtime Hours of Production and Nonsupervisory Employees, Manufacturing4
- Business Applications: Total for All NAICS in the United States523,971
- ICE BofA US Corporate Index Option-Adjusted Spread0.75
Data sourced from FRED®, Federal Reserve Bank of St. Louis: Average Hourly Earnings of All Employees, Total Private (CES0500000003). Retrieved from fred.stlouisfed.org. Last updated June 5, 2026.