Year-over-year wage growth in the United States continued to moderate in March 2026, with Average Hourly Earnings rising 3.5% compared to the same month a year earlier. The pace eased from February 2026, when earnings were up 3.8% year-over-year, according to data updated on 3 April 2026.
The figures show that the annual rate of increase in pay has slowed for a second consecutive month, as the “previous” reading reflects February’s change versus February a year earlier, while the “actual” March reading compares March 2026 with March 2025. This deceleration in earnings growth may be interpreted as a sign of easing wage pressures in the labor market, a factor closely watched by investors and policymakers for its potential influence on inflation and interest rate expectations.
