Business Sector: Real Hourly Compensation for All Workers (RCPHBS)
Business Sector: Real Hourly Compensation for All Workers — Historical Chart
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Sign Up FreeUnderstanding Business Sector: Real Hourly Compensation for All Workers
Business Sector: Real Hourly Compensation for All Workers (FRED series RCPHBS) is a quarterly economic indicator measured in index 2017=100. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 1947. Values are seasonally adjusted, smoothing out predictable calendar effects so that underlying trends are easier to see.
Why it matters: Business Sector: Real Hourly Compensation for All Workers 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 quarterly print. Comparing the latest value against its level a year ago, and against its long-run range since 1947, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
Recent Data
| Date | Value (Index 2017=100) | Change |
|---|---|---|
| January 1, 2026 | 110.41 | -1.1 |
| October 1, 2025 | 111.51 | +1.05 |
| July 1, 2025 | 110.46 | +0.79 |
| April 1, 2025 | 109.67 | +0.91 |
| January 1, 2025 | 108.77 | +0.35 |
| October 1, 2024 | 108.42 | +0.78 |
| July 1, 2024 | 107.63 | -0.14 |
| April 1, 2024 | 107.77 | -0.43 |
| January 1, 2024 | 108.20 | +1.58 |
| October 1, 2023 | 106.61 | +0.52 |
| July 1, 2023 | 106.09 | +0.61 |
| April 1, 2023 | 105.48 | +0.78 |
Frequently Asked Questions
What is Business Sector: Real Hourly Compensation for All Workers today?
The latest value of Business Sector: Real Hourly Compensation for All Workers (RCPHBS) 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 Business Sector: Real Hourly Compensation for All Workers updated?
Business Sector: Real Hourly Compensation for All Workers is reported quarterly (Quarterly). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising Business Sector: Real Hourly Compensation for All Workers mean?
A sustained rise in Business Sector: Real Hourly Compensation for All Workers signals strengthening readings in this economic measure, in index 2017=100. 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 RCPHBS data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID RCPHBS. History is available back to 1947.
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: Business Sector: Real Hourly Compensation for All Workers (RCPHBS). Retrieved from fred.stlouisfed.org. Last updated June 4, 2026.