The Bureau of Labor Statistics' own inflation-adjusted figure shows an average hour of work bought 0.3% less in August 2026 than in August 2025.
Average hourly earnings for U.S. private-sector workers rose 3% over the year ending in September, per the Bureau of Labor Statistics. That is the slowest pace since May 2021, The Wall Street Journal and CNBC reported. Prices rose faster: consumer inflation was 3.4% over the year ending in August. September's inflation figure is not out yet. Labor economist Aaron Sojourner said people "can buy less with a sort of average hour of work than they could a year before."
Yearly pay growth, by month:
- June
- 3.4%
- July
- 3.2%
- August
- 3.1%
- September
- 3%
How weekly and typical-worker pay measures point the other way
- Average workweek, Aug. 2025 to Aug. 2026: up 0.6%, so people worked more hours
- Real weekly earnings over the same year: up 0.3%, because the longer hours outweighed the hourly loss
- Atlanta Fed median wage growth for the same workers tracked a year apart: 4.1% in August, up from 3.8% in July