Earnings Report for Nov 02, 2026

Wage trends in mid-2026 have cooled from the rapid post-pandemic catch-up years. Nominal average hourly earnings are still rising, but year-over-year gains have slowed into the low single digits, and in some recent months inflation has again outpaced wage growth—leaving real wages flat or slightly negative. That matters for household budgets, discretionary spending, and the repayment capacity behind consumer and mortgage credit.

Industry composition remains important. Sectors with persistent labor shortages or strong demand can still post firmer wage paths, while goods and discretionary services may show more restraint as hiring slows. Tracking both nominal and real wages—overall and by industry—helps distinguish broad purchasing-power gains from pockets of compensation strength that may not generalize across a bank’s customer base. This report summarizes those earnings measures as of the current date.

Nominal Hourly Wages

Real Hourly Wages

Real Average Annual Compensation

Nominal Hourly Wages per Industry

Real Hourly Wages per Industry