U.S. average hourly earnings grew 3.8% year-over-year in February 2026, edging up from a 3.7% increase in January, according to data updated on 6 March 2026. The figures reflect pay gains for February compared with the same month a year earlier, while January’s reading measured the change versus January of the previous year.
The slight acceleration in wage growth suggests that labor-market-driven pay pressures remain present, even as the pace of increases has moderated from earlier post-pandemic peaks. The February uptick indicates that earnings are still rising faster than they were at the start of the year, a development that will be closely watched by investors and policymakers assessing the outlook for inflation and interest rates.
Because both the current and previous indicators are calculated on a year-over-year basis, the February reading confirms that wage momentum has not yet cooled decisively, adding another data point to the broader debate over how quickly overall economic conditions are normalizing.
