Bloomberg Surveillance · Friday, August 7, 2026
Average hourly earnings in the US rose by only a tenth of a percent month-over-month in July, falling short of expectations. Year-over-year, average hourly earnings increased by 3.2%, also below the projected 3.5%, suggesting moderating wage pressures that could impact inflation.
“Want to move over to the wage component here, which provides more clues on inflation.”
“Average hourly earnings a month over month up just a tenth of a percent, a scant tenth of a percent.”
“Average hourly earnings year over year up three point two percent. The expectation was for three and a half percent.”