Key numbers on nominal wages
- Actual year-over-year growth for private employees: 4.1%
- Chart: Nominal wage growth has been far below target in the recovery
- Chart: Mind the wage gap
- Chart: Labor’s share of corporate income hasn’t recovered
Year-over-year change in private-sector nominal average hourly earnings, 2007–2024
Nominal Wage Tracker
Year-over-year change in private-sector nominal average hourly earnings, 2007–2024
| date | All nonfarm employees | Production/nonsupervisory workers |
|---|---|---|
| Mar-2007 | 3.4% | 4.1% |
| Apr-2007 | 3.1% | 3.8% |
| May-2007 | 3.5% | 4.1% |
| Jun-2007 | 3.6% | 4.2% |
| Jul-2007 | 3.3% | 4.1% |
| Aug-2007 | 3.3% | 4.0% |
| Sep-2007 | 3.1% | 4.0% |
| Oct-2007 | 3.1% | 3.8% |
| Nov-2007 | 3.1% | 3.8% |
| Dec-2007 | 2.9% | 3.8% |
| Jan-2008 | 3.0% | 3.7% |
| Feb-2008 | 2.8% | 3.8% |
| Mar-2008 | 3.0% | 3.8% |
| Apr-2008 | 2.9% | 3.7% |
| May-2008 | 3.0% | 3.7% |
| Jun-2008 | 2.7% | 3.6% |
| Jul-2008 | 3.1% | 3.7% |
| Aug-2008 | 3.3% | 3.9% |
| Sep-2008 | 3.2% | 3.7% |
| Oct-2008 | 3.3% | 3.8% |
| Nov-2008 | 3.6% | 3.9% |
| Dec-2008 | 3.6% | 3.9% |
| Jan-2009 | 3.6% | 3.7% |
| Feb-2009 | 3.4% | 3.6% |
| Mar-2009 | 3.3% | 3.5% |
| Apr-2009 | 3.3% | 3.4% |
| May-2009 | 3.0% | 3.1% |
| Jun-2009 | 2.9% | 2.9% |
| Jul-2009 | 2.7% | 2.7% |
| Aug-2009 | 2.4% | 2.7% |
| Sep-2009 | 2.5% | 2.7% |
| Oct-2009 | 2.5% | 2.7% |
| Nov-2009 | 2.2% | 2.7% |
| Dec-2009 | 1.9% | 2.5% |
| Jan-2010 | 2.0% | 2.7% |
| Feb-2010 | 2.1% | 2.5% |
| Mar-2010 | 1.8% | 2.2% |
| Apr-2010 | 1.8% | 2.4% |
| May-2010 | 1.9% | 2.6% |
| Jun-2010 | 1.8% | 2.5% |
| Jul-2010 | 1.8% | 2.4% |
| Aug-2010 | 1.8% | 2.4% |
| Sep-2010 | 1.8% | 2.2% |
| Oct-2010 | 2.0% | 2.5% |
| Nov-2010 | 1.7% | 2.2% |
| Dec-2010 | 1.8% | 2.0% |
| Jan-2011 | 2.0% | 2.4% |
| Feb-2011 | 1.9% | 2.1% |
| Mar-2011 | 1.8% | 2.1% |
| Apr-2011 | 1.9% | 2.1% |
| May-2011 | 2.0% | 2.1% |
| Jun-2011 | 2.1% | 2.0% |
| Jul-2011 | 2.3% | 2.3% |
| Aug-2011 | 2.0% | 1.9% |
| Sep-2011 | 2.0% | 2.0% |
| Oct-2011 | 2.0% | 1.9% |
| Nov-2011 | 2.0% | 1.8% |
| Dec-2011 | 2.0% | 1.8% |
| Jan-2012 | 1.7% | 1.3% |
| Feb-2012 | 1.8% | 1.5% |
| Mar-2012 | 2.1% | 1.7% |
| Apr-2012 | 2.1% | 1.7% |
| May-2012 | 1.8% | 1.3% |
| Jun-2012 | 2.0% | 1.5% |
| Jul-2012 | 1.7% | 1.4% |
| Aug-2012 | 1.8% | 1.4% |
| Sep-2012 | 1.9% | 1.5% |
| Oct-2012 | 1.6% | 1.2% |
| Nov-2012 | 1.9% | 1.5% |
| Dec-2012 | 2.2% | 1.7% |
| Jan-2013 | 2.2% | 1.8% |
| Feb-2013 | 2.1% | 2.0% |
| Mar-2013 | 1.9% | 1.8% |
| Apr-2013 | 2.1% | 1.8% |
| May-2013 | 2.1% | 1.9% |
| Jun-2013 | 2.1% | 2.1% |
| Jul-2013 | 2.0% | 2.0% |
| Aug-2013 | 2.3% | 2.2% |
| Sep-2013 | 2.1% | 2.2% |
| Oct-2013 | 2.2% | 2.3% |
| Nov-2013 | 2.2% | 2.3% |
| Dec-2013 | 1.9% | 2.2% |
| Jan-2014 | 2.0% | 2.3% |
| Feb-2014 | 2.3% | 2.6% |
| Mar-2014 | 2.2% | 2.5% |
| Apr-2014 | 2.0% | 2.3% |
| May-2014 | 2.1% | 2.4% |
| Jun-2014 | 2.1% | 2.3% |
| Jul-2014 | 2.1% | 2.3% |
| Aug-2014 | 2.2% | 2.4% |
| Sep-2014 | 2.0% | 2.2% |
| Oct-2014 | 2.0% | 2.2% |
| Nov-2014 | 2.1% | 2.3% |
| Dec-2014 | 1.8% | 1.8% |
| Jan-2015 | 2.1% | 2.0% |
| Feb-2015 | 1.9% | 1.6% |
| Mar-2015 | 2.2% | 2.0% |
| Apr-2015 | 2.3% | 2.0% |
| May-2015 | 2.3% | 2.1% |
| Jun-2015 | 2.1% | 2.0% |
| Jul-2015 | 2.1% | 2.0% |
| Aug-2015 | 2.2% | 2.1% |
| Sep-2015 | 2.3% | 2.0% |
| Oct-2015 | 2.5% | 2.4% |
| Nov-2015 | 2.4% | 2.1% |
| Dec-2015 | 2.5% | 2.5% |
| Jan-2016 | 2.5% | 2.5% |
| Feb-2016 | 2.4% | 2.4% |
| Mar-2016 | 2.4% | 2.3% |
| Apr-2016 | 2.6% | 2.6% |
| May-2016 | 2.4% | 2.3% |
| Jun-2016 | 2.6% | 2.5% |
| Jul-2016 | 2.8% | 2.6% |
| Aug-2016 | 2.5% | 2.4% |
| Sep-2016 | 2.6% | 2.6% |
| Oct-2016 | 2.8% | 2.5% |
| Nov-2016 | 2.6% | 2.4% |
| Dec-2016 | 2.7% | 2.5% |
| Jan-2017 | 2.4% | 2.3% |
| Feb-2017 | 2.7% | 2.4% |
| Mar-2017 | 2.6% | 2.3% |
| Apr-2017 | 2.5% | 2.2% |
| May-2017 | 2.5% | 2.3% |
| Jun-2017 | 2.5% | 2.3% |
| Jul-2017 | 2.6% | 2.3% |
| Aug-2017 | 2.6% | 2.4% |
| Sep-2017 | 2.8% | 2.5% |
| Oct-2017 | 2.3% | 2.2% |
| Nov-2017 | 2.4% | 2.3% |
| Dec-2017 | 2.7% | 2.5% |
| Jan-2018 | 2.8% | 2.6% |
| Feb-2018 | 2.6% | 2.7% |
| Mar-2018 | 2.9% | 2.8% |
| Apr-2018 | 2.8% | 2.7% |
| May-2018 | 2.9% | 2.9% |
| Jun-2018 | 3.0% | 2.9% |
| Jul-2018 | 2.8% | 2.8% |
| Aug-2018 | 3.1% | 3.0% |
| Sep-2018 | 3.1% | 3.0% |
| Oct-2018 | 3.3% | 3.2% |
| Nov-2018 | 3.4% | 3.5% |
| Dec-2018 | 3.5% | 3.6% |
| Jan-2019 | 3.2% | 3.4% |
| Feb-2019 | 3.6% | 3.5% |
| Mar-2019 | 3.5% | 3.6% |
| Apr-2019 | 3.2% | 3.5% |
| May-2019 | 3.3% | 3.5% |
| Jun-2019 | 3.4% | 3.6% |
| Jul-2019 | 3.4% | 3.7% |
| Aug-2019 | 3.4% | 3.7% |
| Sep-2019 | 3.1% | 3.6% |
| Oct-2019 | 3.1% | 3.7% |
| Nov-2019 | 3.3% | 3.7% |
| Dec-2019 | 3.0% | 3.1% |
| Jan-2020 | 3.1% | 3.3% |
| Feb-2020 | 3.0% | 3.4% |
| Mar-2020 | 3.5% | 3.6% |
| Apr-2020 | 8.0% | 7.8% |
| May-2020 | 6.7% | 6.9% |
| Jun-2020 | 5.1% | 5.6% |
| Jul-2020 | 4.9% | 4.8% |
| Aug-2020 | 4.8% | 5.1% |
| Sep-2020 | 4.8% | 4.8% |
| Oct-2020 | 4.6% | 4.6% |
| Nov-2020 | 4.5% | 4.6% |
| Dec-2020 | 5.4% | 5.6% |
| Jan-2021 | 5.2% | 5.3% |
| Feb-2021 | 5.3% | 5.2% |
| Mar-2021 | 4.5% | 4.9% |
| Apr-2021 | 0.7% | 1.5% |
| May-2021 | 2.3% | 2.8% |
| Jun-2021 | 3.9% | 4.1% |
| Jul-2021 | 4.3% | 5.1% |
| Aug-2021 | 4.4% | 5.2% |
| Sep-2021 | 4.9% | 6.0% |
| Oct-2021 | 5.5% | 6.5% |
| Nov-2021 | 5.4% | 6.6% |
| Dec-2021 | 5.0% | 6.4% |
| Jan-2022 | 5.7% | 6.9% |
| Feb-2022 | 5.3% | 6.8% |
| Mar-2022 | 5.9% | 7.0% |
| Apr-2022 | 5.8% | 6.9% |
| May-2022 | 5.6% | 6.7% |
| Jun-2022 | 5.4% | 6.7% |
| Jul-2022 | 5.5% | 6.5% |
| Aug-2022 | 5.4% | 6.2% |
| Sep-2022 | 5.1% | 5.9% |
| Oct-2022 | 5.0% | 5.8% |
| Nov-2022 | 5.1% | 5.9% |
| Dec-2022 | 4.9% | 5.5% |
| Jan-2023 | 4.6% | 5.2% |
| Feb-2023 | 4.7% | 5.4% |
| Mar-2023 | 4.6% | 5.4% |
| Apr-2023 | 4.7% | 5.2% |
| May-2023 | 4.6% | 5.1% |
| Jun-2023 | 4.7% | 5.0% |
| Jul-2023 | 4.7% | 5.0% |
| Aug-2023 | 4.5% | 4.8% |
| Sep-2023 | 4.5% | 4.7% |
| Oct-2023 | 4.3% | 4.6% |
| Nov-2023 | 4.3% | 4.6% |
| Dec-2023 | 4.3% | 4.5% |
| Jan-2024 | 4.4% | 4.7% |
| Feb-2024 | 4.3% | 4.5% |
| Mar-2024 | 4.1% | 4.2% |
| Apr-2024 | 3.9% | 4.0% |
| May-2024 | 4.0% | 4.0% |
| Jun-2024 | 3.8% | 4.0% |
| Jul-2024 | 3.6% | 3.9% |
| Aug-2024 | 3.8% | 4.1% |
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Source: EPI analysis of Bureau of Labor Statistics Current Employment Statistics public data series.
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Mind the wage gap: Cumulative nominal average hourly earnings, actual and hypothetical if they had grown at 3.5% since the recession began, 2007–2024
Nominal Wage Tracker
Mind the wage gap: Cumulative nominal average hourly earnings, actual and hypothetical if they had grown at 3.5% since the recession began, 2007–2024
| Date | Average hourly earnings of all private employees | Hypothetical, assuming 3.5% growth* | Gap |
|---|---|---|---|
| Jan-2007 | $20.59 | ||
| Feb-2007 | $20.68 | ||
| Mar-2007 | $20.73 | ||
| Apr-2007 | $20.78 | ||
| May-2007 | $20.84 | ||
| Jun-2007 | $20.95 | ||
| Jul-2007 | $20.95 | ||
| Aug-2007 | $21.00 | ||
| Sep-2007 | $21.04 | ||
| Oct-2007 | $21.06 | ||
| Nov-2007 | $21.12 | ||
| Dec-2007 | $21.17 | $21.17 | $0.00 |
| Jan-2008 | $21.20 | $21.23 | $0.03 |
| Feb-2008 | $21.26 | $21.29 | $0.03 |
| Mar-2008 | $21.36 | $21.35 | -$0.01 |
| Apr-2008 | $21.38 | $21.41 | $0.03 |
| May-2008 | $21.47 | $21.48 | $0.01 |
| Jun-2008 | $21.51 | $21.54 | $0.03 |
| Jul-2008 | $21.60 | $21.60 | $0.00 |
| Aug-2008 | $21.70 | $21.66 | -$0.04 |
| Sep-2008 | $21.72 | $21.72 | $0.00 |
| Oct-2008 | $21.76 | $21.79 | $0.03 |
| Nov-2008 | $21.87 | $21.85 | -$0.02 |
| Dec-2008 | $21.94 | $21.91 | -$0.03 |
| Jan-2009 | $21.96 | $21.97 | $0.01 |
| Feb-2009 | $21.99 | $22.04 | $0.05 |
| Mar-2009 | $22.06 | $22.10 | $0.04 |
| Apr-2009 | $22.09 | $22.16 | $0.07 |
| May-2009 | $22.11 | $22.23 | $0.12 |
| Jun-2009 | $22.14 | $22.29 | $0.15 |
| Jul-2009 | $22.18 | $22.36 | $0.18 |
| Aug-2009 | $22.23 | $22.42 | $0.19 |
| Sep-2009 | $22.26 | $22.48 | $0.22 |
| Oct-2009 | $22.30 | $22.55 | $0.25 |
| Nov-2009 | $22.35 | $22.61 | $0.26 |
| Dec-2009 | $22.36 | $22.68 | $0.32 |
| Jan-2010 | $22.41 | $22.74 | $0.33 |
| Feb-2010 | $22.45 | $22.81 | $0.36 |
| Mar-2010 | $22.46 | $22.87 | $0.41 |
| Apr-2010 | $22.49 | $22.94 | $0.45 |
| May-2010 | $22.53 | $23.01 | $0.48 |
| Jun-2010 | $22.53 | $23.07 | $0.54 |
| Jul-2010 | $22.59 | $23.14 | $0.55 |
| Aug-2010 | $22.62 | $23.20 | $0.58 |
| Sep-2010 | $22.67 | $23.27 | $0.60 |
| Oct-2010 | $22.74 | $23.34 | $0.60 |
| Nov-2010 | $22.73 | $23.40 | $0.67 |
| Dec-2010 | $22.76 | $23.47 | $0.71 |
| Jan-2011 | $22.86 | $23.54 | $0.68 |
| Feb-2011 | $22.87 | $23.61 | $0.74 |
| Mar-2011 | $22.87 | $23.67 | $0.80 |
| Apr-2011 | $22.91 | $23.74 | $0.83 |
| May-2011 | $22.98 | $23.81 | $0.83 |
| Jun-2011 | $23.01 | $23.88 | $0.87 |
| Jul-2011 | $23.10 | $23.95 | $0.85 |
| Aug-2011 | $23.07 | $24.02 | $0.95 |
| Sep-2011 | $23.12 | $24.09 | $0.97 |
| Oct-2011 | $23.20 | $24.15 | $0.95 |
| Nov-2011 | $23.19 | $24.22 | $1.03 |
| Dec-2011 | $23.22 | $24.29 | $1.07 |
| Jan-2012 | $23.25 | $24.36 | $1.11 |
| Feb-2012 | $23.28 | $24.43 | $1.15 |
| Mar-2012 | $23.36 | $24.50 | $1.14 |
| Apr-2012 | $23.39 | $24.57 | $1.18 |
| May-2012 | $23.40 | $24.64 | $1.24 |
| Jun-2012 | $23.46 | $24.71 | $1.25 |
| Jul-2012 | $23.50 | $24.79 | $1.29 |
| Aug-2012 | $23.49 | $24.86 | $1.37 |
| Sep-2012 | $23.57 | $24.93 | $1.36 |
| Oct-2012 | $23.56 | $25.00 | $1.44 |
| Nov-2012 | $23.63 | $25.07 | $1.44 |
| Dec-2012 | $23.73 | $25.14 | $1.41 |
| Jan-2013 | $23.75 | $25.22 | $1.47 |
| Feb-2013 | $23.78 | $25.29 | $1.51 |
| Mar-2013 | $23.80 | $25.36 | $1.56 |
| Apr-2013 | $23.87 | $25.43 | $1.56 |
| May-2013 | $23.89 | $25.51 | $1.62 |
| Jun-2013 | $23.96 | $25.58 | $1.62 |
| Jul-2013 | $23.98 | $25.65 | $1.67 |
| Aug-2013 | $24.02 | $25.73 | $1.71 |
| Sep-2013 | $24.06 | $25.80 | $1.74 |
| Oct-2013 | $24.09 | $25.87 | $1.78 |
| Nov-2013 | $24.16 | $25.95 | $1.79 |
| Dec-2013 | $24.18 | $26.02 | $1.84 |
| Jan-2014 | $24.23 | $26.10 | $1.87 |
| Feb-2014 | $24.33 | $26.17 | $1.84 |
| Mar-2014 | $24.32 | $26.25 | $1.93 |
| Apr-2014 | $24.34 | $26.32 | $1.98 |
| May-2014 | $24.40 | $26.40 | $2.00 |
| Jun-2014 | $24.46 | $26.47 | $2.01 |
| Jul-2014 | $24.48 | $26.55 | $2.07 |
| Aug-2014 | $24.54 | $26.63 | $2.09 |
| Sep-2014 | $24.55 | $26.70 | $2.15 |
| Oct-2014 | $24.58 | $26.78 | $2.20 |
| Nov-2014 | $24.66 | $26.86 | $2.20 |
| Dec-2014 | $24.62 | $26.93 | $2.31 |
| Jan-2015 | $24.75 | $27.01 | $2.26 |
| Feb-2015 | $24.79 | $27.09 | $2.30 |
| Mar-2015 | $24.86 | $27.17 | $2.31 |
| Apr-2015 | $24.89 | $27.24 | $2.35 |
| May-2015 | $24.97 | $27.32 | $2.35 |
| Jun-2015 | $24.97 | $27.40 | $2.43 |
| Jul-2015 | $25.00 | $27.48 | $2.48 |
| Aug-2015 | $25.09 | $27.56 | $2.47 |
| Sep-2015 | $25.11 | $27.64 | $2.53 |
| Oct-2015 | $25.19 | $27.72 | $2.53 |
| Nov-2015 | $25.25 | $27.80 | $2.55 |
| Dec-2015 | $25.24 | $27.88 | $2.64 |
| Jan-2016 | $25.38 | $27.96 | $2.58 |
| Feb-2016 | $25.38 | $28.04 | $2.66 |
| Mar-2016 | $25.45 | $28.12 | $2.67 |
| Apr-2016 | $25.53 | $28.20 | $2.67 |
| May-2016 | $25.58 | $28.28 | $2.70 |
| Jun-2016 | $25.62 | $28.36 | $2.74 |
| Jul-2016 | $25.69 | $28.44 | $2.75 |
| Aug-2016 | $25.72 | $28.52 | $2.80 |
| Sep-2016 | $25.77 | $28.61 | $2.84 |
| Oct-2016 | $25.89 | $28.69 | $2.80 |
| Nov-2016 | $25.90 | $28.77 | $2.87 |
| Dec-2016 | $25.92 | $28.85 | $2.93 |
| Jan-2017 | $26.00 | $28.94 | $2.94 |
| Feb-2017 | $26.06 | $29.02 | $2.96 |
| Mar-2017 | $26.11 | $29.10 | $2.99 |
| Apr-2017 | $26.17 | $29.19 | $3.02 |
| May-2017 | $26.21 | $29.27 | $3.06 |
| Jun-2017 | $26.26 | $29.35 | $3.09 |
| Jul-2017 | $26.36 | $29.44 | $3.08 |
| Aug-2017 | $26.38 | $29.52 | $3.14 |
| Sep-2017 | $26.49 | $29.61 | $3.12 |
| Oct-2017 | $26.49 | $29.69 | $3.20 |
| Nov-2017 | $26.52 | $29.78 | $3.26 |
| Dec-2017 | $26.61 | $29.86 | $3.25 |
| Jan-2018 | $26.73 | $29.95 | $3.22 |
| Feb-2018 | $26.75 | $30.03 | $3.28 |
| Mar-2018 | $26.86 | $30.12 | $3.26 |
| Apr-2018 | $26.92 | $30.21 | $3.29 |
| May-2018 | $26.98 | $30.29 | $3.31 |
| Jun-2018 | $27.03 | $30.38 | $3.35 |
| Jul-2018 | $27.09 | $30.47 | $3.38 |
| Aug-2018 | $27.20 | $30.56 | $3.36 |
| Sep-2018 | $27.32 | $30.64 | $3.32 |
| Oct-2018 | $27.36 | $30.73 | $3.37 |
| Nov-2018 | $27.44 | $30.82 | $3.38 |
| Dec-2018 | $27.56 | $30.91 | $3.35 |
| Jan-2019 | $27.59 | $31.00 | $3.41 |
| Feb-2019 | $27.70 | $31.09 | $3.39 |
| Mar-2019 | $27.79 | $31.17 | $3.38 |
| Apr-2019 | $27.76 | $31.26 | $3.50 |
| May-2019 | $27.86 | $31.35 | $3.49 |
| Jun-2019 | $27.94 | $31.44 | $3.50 |
| Jul-2019 | $28.02 | $31.53 | $3.51 |
| Aug-2019 | $28.13 | $31.62 | $3.49 |
| Sep-2019 | $28.17 | $31.72 | $3.55 |
| Oct-2019 | $28.24 | $31.81 | $3.57 |
| Nov-2019 | $28.35 | $31.90 | $3.55 |
| Dec-2019 | $28.37 | $31.99 | $3.62 |
| Jan-2020 | $28.43 | $32.08 | $3.65 |
| Feb-2020 | $28.55 | $32.17 | $3.62 |
| Mar-2020 | $28.80 | $32.27 | $3.47 |
| Apr-2020 | $30.01 | $32.36 | $2.35 |
| May-2020 | $29.72 | $32.45 | $2.73 |
| Jun-2020 | $29.37 | $32.54 | $3.17 |
| Jul-2020 | $29.39 | $32.64 | $3.25 |
| Aug-2020 | $29.48 | $32.73 | $3.25 |
| Sep-2020 | $29.52 | $32.83 | $3.31 |
| Oct-2020 | $29.54 | $32.92 | $3.38 |
| Nov-2020 | $29.64 | $33.01 | $3.37 |
| Dec-2020 | $29.92 | $33.11 | $3.19 |
| Jan-2021 | $29.92 | $33.20 | $3.28 |
| Feb-2021 | $30.05 | $33.30 | $3.25 |
| Mar-2021 | $30.05 | $33.39 | $3.34 |
| Apr-2021 | $30.20 | $33.49 | $3.29 |
| May-2021 | $30.38 | $33.59 | $3.21 |
| Jun-2021 | $30.53 | $33.68 | $3.15 |
| Jul-2021 | $30.66 | $33.78 | $3.12 |
| Aug-2021 | $30.78 | $33.88 | $3.10 |
| Sep-2021 | $30.96 | $33.97 | $3.01 |
| Oct-2021 | $31.14 | $34.07 | $2.93 |
| Nov-2021 | $31.24 | $34.17 | $2.93 |
| Dec-2021 | $31.42 | $34.27 | $2.85 |
| Jan-2022 | $31.63 | $34.37 | $2.74 |
| Feb-2022 | $31.63 | $34.46 | $2.83 |
| Mar-2022 | $31.83 | $34.56 | $2.73 |
| Apr-2022 | $31.94 | $34.66 | $2.72 |
| May-2022 | $32.06 | $34.76 | $2.70 |
| Jun-2022 | $32.18 | $34.86 | $2.68 |
| Jul-2022 | $32.33 | $34.96 | $2.63 |
| Aug-2022 | $32.43 | $35.06 | $2.63 |
| Sep-2022 | $32.53 | $35.16 | $2.63 |
| Oct-2022 | $32.66 | $35.26 | $2.60 |
| Nov-2022 | $32.80 | $35.37 | $2.57 |
| Dec-2022 | $32.92 | $35.47 | $2.55 |
| Jan-2023 | $33.02 | $35.57 | $2.55 |
| Feb-2023 | $33.11 | $35.67 | $2.56 |
| Mar-2023 | $33.20 | $35.77 | $2.57 |
| Apr-2023 | $33.34 | $35.88 | $2.54 |
| May-2023 | $33.45 | $35.98 | $2.53 |
| Jun-2023 | $33.60 | $36.08 | $2.48 |
| Jul-2023 | $33.73 | $36.19 | $2.46 |
| Aug-2023 | $33.82 | $36.29 | $2.47 |
| Sep-2023 | $33.93 | $36.39 | $2.46 |
| Oct-2023 | $34.00 | $36.50 | $2.50 |
| Nov-2023 | $34.23 | $36.60 | $2.37 |
| Dec-2023 | $34.34 | $36.71 | $2.37 |
| Jan-2024 | $34.51 | $36.81 | $2.30 |
| Feb-2024 | $34.56 | $36.92 | $2.36 |
| Mar-2024 | $34.69 | $37.03 | $2.34 |
| Apr-2024 | $34.75 | $37.13 | $2.38 |
| May-2024 | $34.90 | $37.24 | $2.34 |
| Jun-2024 | $34.99 | $37.35 | $2.36 |
| Jul-2024 | $35.07 | $37.45 | $2.38 |
| Aug-2024 | $35.21 | $37.56 | $2.35 |
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*Nominal wage growth consistent with the Federal Reserve Board’s 2 percent inflation target, 1.5percent productivity growth, and a stable labor share of income
Source:EPI analysis of Bureau of Labor Statistics Current Employment Statistics public data series
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Workers’ share of corporate income hasn’t recovered: Share of corporate-sector income received by workers over recent business cycles, 1979–2024
Nominal Wage Tracker
Workers' share of corporate income hasn't recovered: Share of corporate-sector income received by workers over recent business cycles, 1979–2024
| date | Labor share |
|---|---|
| Jan-1979 | 79.1% |
| Apr-1979 | 79.5% |
| Jul-1979 | 80.3% |
| Oct-1979 | 80.8% |
| Jan-1980 | 81.3% |
| Apr-1980 | 82.8% |
| Jul-1980 | 82.0% |
| Oct-1980 | 80.6% |
| Jan-1981 | 80.4% |
| Apr-1981 | 80.4% |
| Jul-1981 | 79.6% |
| Oct-1981 | 80.5% |
| Jan-1982 | 81.5% |
| Apr-1982 | 80.9% |
| Jul-1982 | 81.0% |
| Oct-1982 | 81.6% |
| Jan-1983 | 81.0% |
| Apr-1983 | 79.9% |
| Jul-1983 | 79.5% |
| Oct-1983 | 79.1% |
| Jan-1984 | 77.8% |
| Apr-1984 | 78.0% |
| Jul-1984 | 78.5% |
| Oct-1984 | 78.4% |
| Jan-1985 | 78.5% |
| Apr-1985 | 78.7% |
| Jul-1985 | 78.4% |
| Oct-1985 | 79.8% |
| Jan-1986 | 80.1% |
| Apr-1986 | 81.0% |
| Jul-1986 | 81.7% |
| Oct-1986 | 82.0% |
| Jan-1987 | 82.0% |
| Apr-1987 | 81.2% |
| Jul-1987 | 80.7% |
| Oct-1987 | 81.2% |
| Jan-1988 | 81.2% |
| Apr-1988 | 81.2% |
| Jul-1988 | 81.1% |
| Oct-1988 | 80.4% |
| Jan-1989 | 80.9% |
| Apr-1989 | 81.1% |
| Jul-1989 | 81.2% |
| Oct-1989 | 82.2% |
| Jan-1990 | 82.1% |
| Apr-1990 | 81.9% |
| Jul-1990 | 82.9% |
| Oct-1990 | 83.4% |
| Jan-1991 | 82.4% |
| Apr-1991 | 82.7% |
| Jul-1991 | 83.1% |
| Oct-1991 | 83.6% |
| Jan-1992 | 83.2% |
| Apr-1992 | 83.3% |
| Jul-1992 | 83.7% |
| Oct-1992 | 83.2% |
| Jan-1993 | 83.6% |
| Apr-1993 | 82.9% |
| Jul-1993 | 82.8% |
| Oct-1993 | 81.6% |
| Jan-1994 | 81.6% |
| Apr-1994 | 81.4% |
| Jul-1994 | 80.8% |
| Oct-1994 | 80.5% |
| Jan-1995 | 80.8% |
| Apr-1995 | 80.5% |
| Jul-1995 | 79.7% |
| Oct-1995 | 79.8% |
| Jan-1996 | 79.3% |
| Apr-1996 | 79.2% |
| Jul-1996 | 79.4% |
| Oct-1996 | 79.5% |
| Jan-1997 | 79.1% |
| Apr-1997 | 79.0% |
| Jul-1997 | 78.4% |
| Oct-1997 | 78.7% |
| Jan-1998 | 79.8% |
| Apr-1998 | 80.1% |
| Jul-1998 | 80.0% |
| Oct-1998 | 80.6% |
| Jan-1999 | 80.4% |
| Apr-1999 | 80.7% |
| Jul-1999 | 81.1% |
| Oct-1999 | 81.5% |
| Jan-2000 | 81.8% |
| Apr-2000 | 82.0% |
| Jul-2000 | 82.5% |
| Oct-2000 | 83.2% |
| Jan-2001 | 83.2% |
| Apr-2001 | 82.9% |
| Jul-2001 | 83.1% |
| Oct-2001 | 84.1% |
| Jan-2002 | 82.3% |
| Apr-2002 | 82.0% |
| Jul-2002 | 81.8% |
| Oct-2002 | 80.8% |
| Jan-2003 | 80.3% |
| Apr-2003 | 80.2% |
| Jul-2003 | 79.8% |
| Oct-2003 | 79.9% |
| Jan-2004 | 78.7% |
| Apr-2004 | 78.6% |
| Jul-2004 | 78.5% |
| Oct-2004 | 78.4% |
| Jan-2005 | 77.1% |
| Apr-2005 | 76.8% |
| Jul-2005 | 76.9% |
| Oct-2005 | 75.7% |
| Jan-2006 | 75.3% |
| Apr-2006 | 75.2% |
| Jul-2006 | 74.6% |
| Oct-2006 | 75.9% |
| Jan-2007 | 77.2% |
| Apr-2007 | 76.7% |
| Jul-2007 | 78.0% |
| Oct-2007 | 79.0% |
| Jan-2008 | 79.5% |
| Apr-2008 | 79.5% |
| Jul-2008 | 79.8% |
| Oct-2008 | 83.6% |
| Jan-2009 | 79.8% |
| Apr-2009 | 79.4% |
| Jul-2009 | 78.4% |
| Oct-2009 | 77.4% |
| Jan-2010 | 76.3% |
| Apr-2010 | 76.8% |
| Jul-2010 | 74.8% |
| Oct-2010 | 74.9% |
| Jan-2011 | 77.1% |
| Apr-2011 | 75.9% |
| Jul-2011 | 76.0% |
| Oct-2011 | 74.2% |
| Jan-2012 | 73.9% |
| Apr-2012 | 74.1% |
| Jul-2012 | 74.4% |
| Oct-2012 | 75.1% |
| Jan-2013 | 74.7% |
| Apr-2013 | 75.0% |
| Jul-2013 | 75.1% |
| Oct-2013 | 74.8% |
| Jan-2014 | 76.0% |
| Apr-2014 | 74.1% |
| Jul-2014 | 73.3% |
| Oct-2014 | 73.7% |
| Jan-2015 | 74.2% |
| Apr-2015 | 74.3% |
| Jul-2015 | 74.9% |
| Oct-2015 | 75.3% |
| Jan-2016 | 74.9% |
| Apr-2016 | 75.4% |
| Jul-2016 | 75.4% |
| Oct-2016 | 75.6% |
| Jan-2017 | 75.9% |
| Apr-2017 | 75.9% |
| Jul-2017 | 76.3% |
| Oct-2017 | 76.1% |
| Jan-2018 | 75.8% |
| Apr-2018 | 75.3% |
| Jul-2018 | 75.2% |
| Oct-2018 | 75.4% |
| Jan-2019 | 76.0% |
| Apr-2019 | 76.1% |
| Jul-2019 | 75.4% |
| Oct-2019 | 75.5% |
| Jan-2020 | 77.8% |
| Apr-2020 | 77.5% |
| Jul-2020 | 73.3% |
| Oct-2020 | 75.6% |
| Jan-2021 | 74.1% |
| Apr-2021 | 72.7% |
| Jul-2021 | 73.6% |
| Oct-2021 | 74.1% |
| Jan-2022 | 74.2% |
| Apr-2022 | 73.0% |
| Jul-2022 | 73.0% |
| Oct-2022 | 72.9% |
| Jan-2023 | 73.6% |
| Apr-2023 | 73.9% |
| Jul-2023 | 73.7% |
| Oct-2023 | 73.1% |
| Jan-2024 | 73.3% |
| Apr-2024 | 73.5% |
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Notes: Shaded areas denote recessions. Federal Reserve banks’ corporate profits were netted out in the calculation of labor share.
Source: EPI analysis of Bureau of Economic Analysis National Income and Product Accounts (Tables 1.14 and 6.16D)
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