Average hourly pay grew 3% in the year to September, while prices rose 3.4% in the year to August

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