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February Wage Growth Moderated, but Stayed Elevated
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U.S. wage growth slowed slightly in February but remained near historically high levels, adding to inflationary pressures when consumer prices were also rising rapidly.
Private-sector average hourly earnings rose a seasonally adjusted 5.1% in February from the previous year, cooler than the 5.5% gain in January, the Labor Department said Friday. Four of the past five months have seen annual wage gains exceed 5%. By contrast, wages rose an average of 3.2% a year in the two years to February 2020, before the Covid-19 pandemic hit the U.S. economy.
Read more on wsj.comAbout this in other media
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