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Average Hourly Earnings (MoM)

The Average Hourly Earning released by the US Bureau of Labor Statistics is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

Most recent - Friday 1 September 2023 12:30

Previous
0.4%
Revised
-
Forecast
0.3%
Actual
0.2%

Lower numbers than forecast tend to be bullish for xxx/USD pairs and bearish for USD/xxx pairs.

Next event - Friday 6 October 2023 12:30

Previous
0.2%
Forecast
0.3%
Actual
-

The typical/expected impact on USD pairs is high.

The consensus forecast for Average Hourly Earnings (MoM) is 0.3%. A higher value than forecast tends to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Trading range

Forecast history

The most recent announced value for Average Hourly Earnings (MoM) was 0.2% against a forecast of 0.3%.

Past events

Date
Forecast
Actual
Friday 1 September 2023 12:30
0.3%
0.2%
Friday 4 August 2023 12:30
0.3%
0.4%
Friday 7 July 2023 12:30
0.3%
0.4%
Friday 2 June 2023 12:30
0.3%
0.3%
Friday 5 May 2023 12:30
0.3%
0.5%
Friday 7 April 2023 12:30
0.3%
0.3%
Friday 10 March 2023 13:30
0.3%
0.2%
Friday 3 February 2023 13:30
0.3%
0.3%
Friday 6 January 2023 13:30
-
0.3%
Friday 2 December 2022 13:30
0.3%
0.6%
Friday 4 November 2022 12:30
0.3%
0.4%
Friday 7 October 2022 12:30
0.3%
0.3%
Friday 2 September 2022 12:30
0.4%
0.3%
Friday 5 August 2022 12:30
0.3%
0.5%
Friday 8 July 2022 12:30
0.3%
0.3%
Friday 3 June 2022 12:30
0.4%
0.3%
Friday 6 May 2022 12:30
0.4%
0.3%
Friday 1 April 2022 12:30
0.4%
0.4%
Friday 4 March 2022 13:30
0.5%
0%
Friday 4 February 2022 13:30
0.5%
0.7%
Friday 7 January 2022 13:30
0.4%
0.6%
Friday 3 December 2021 13:30
0.4%
0.3%
Friday 5 November 2021 12:30
0.4%
0.4%
Friday 8 October 2021 12:30
0.4%
0.6%
Friday 3 September 2021 12:30
0.3%
0.6%
Friday 6 August 2021 12:30
0.3%
0.4%
Friday 2 July 2021 12:30
0.3%
0.3%
Friday 4 June 2021 12:30
0.2%
0.5%
Friday 7 May 2021 12:30
0%
0.7%
Friday 2 April 2021 12:30
0.2%
-0.1%
Friday 5 March 2021 13:30
0.2%
0.2%
Friday 5 February 2021 13:30
0.3%
0.2%
Friday 8 January 2021 13:30
0.2%
0.8%
Friday 4 December 2020 13:30
0.1%
0.3%
Friday 6 November 2020 13:30
0.2%
0.1%
Friday 2 October 2020 12:30
0.2%
0.1%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Average Hourly Earnings (MoM) result:

PreviousLatest
Core Personal Consumption Expenditures - Price Index (MoM)Bearish change0.2%0.1%
Core Personal Consumption Expenditures - Price Index (YoY)Bearish change4.3%3.9%
Personal Consumption Expenditures - Price Index (MoM)Bullish change0.2%0.4%
Personal Consumption Expenditures - Price Index (YoY)Bullish change3.4%3.5%
Personal Income (MoM)Bullish change0.2%0.4%
Personal SpendingBearish change0.9%0.4%
Pending Home Sales (MoM)Bearish change0.9%-7.1%
Core Personal Consumption Expenditures (QoQ)(no change)3.7%3.7%
Gross Domestic Product Annualized(no change)2.1%2.1%
Gross Domestic Product Price IndexBearish change2%1.7%
Initial Jobless ClaimsBearish change202K204K
Personal Consumption Expenditures Prices (QoQ)(no change)2.5%2.5%
Durable Goods OrdersBullish change-5.6%0.2%
Durable Goods Orders ex DefenseBullish change-6%-0.7%
Durable Goods Orders ex TransportationBullish change0.1%0.4%
Nondefense Capital Goods Orders ex AircraftBullish change-0.4%0.9%
New Home Sales Change (MoM)Bearish change8%-8.7%
Housing Price Index (MoM)Bullish change0.4%0.8%
S&P Global Composite PMIBearish change50.250.1
S&P Global Manufacturing PMIBullish change47.948.9
S&P Global Services PMIBearish change50.550.2
Existing Home Sales Change (MoM)Bullish change-2.2%-0.7%
Initial Jobless ClaimsBullish change221K201K
Philadelphia Fed Manufacturing SurveyBearish change12-13.5
Fed Interest Rate Decision(no change)5.5%5.5%
Interest Rate Projections - 1st yearBullish change4.6%5.1%
Interest Rate Projections - 2nd yearBullish change3.4%3.9%
Interest Rate Projections - 3rd yearBearish change3.1%2.9%
Interest Rate Projections - Current(no change)5.6%5.6%
Interest Rate Projections - Longer(no change)2.5%2.5%
Building Permits (MoM)Bullish change1.443M1.543M
Housing Starts (MoM)Bearish change1.447M1.283M
Michigan Consumer Sentiment IndexBearish change69.567.7
UoM 5-year Consumer Inflation ExpectationBearish change3%2.7%
Industrial Production (MoM)Bearish change0.7%0.4%

About Average Hourly Earnings (MoM)

Country:United States
Currency:USD
Source:US Bureau of Labor Statistics
Category:Labor Market
Frequency:Monthly

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