Average Hourly Earnings Growth vs Housing Starts (Annualized)
Average Hourly Earnings Growth is currently 3.8% (down -0.2%). Housing Starts (Annualized) is currently 1,501K (up +151.0K).
| Metric | Average Hourly Earnings Growth | Housing Starts (Annualized) |
|---|---|---|
| Current value | 3.8% | 1,501K |
| Previous reading | 4% | 1350K |
| Change | -0.2% | +151.0K |
| Trend | down | up |
| Frequency | Monthly | Monthly |
| Source | Bureau of Labor Statistics | U.S. Census Bureau |
| Last updated | 2026-04-04 | 2026-03-18 |
| Category | employment | housing |
What Average Hourly Earnings Growth measures
Average hourly earnings measures the year-over-year percentage change in wages for all private-sector employees. It is a key indicator of labor cost pressures and consumer spending power.
Wage growth at 3.8% year-over-year outpaces current inflation, meaning workers are gaining real purchasing power. For executives, this signals continued pressure on labor budgets — compensation packages must grow to retain talent. However, wage growth moderating from 4%+ suggests the worst of the post-pandemic wage spiral may be easing.
What Housing Starts (Annualized) measures
Housing starts measures the number of new residential construction projects begun during a given month, expressed as a seasonally adjusted annual rate. It is a leading indicator of economic activity because construction generates employment and demand for materials.
Housing starts jumped to 1.50 million annualized, a strong reading. For executives, residential construction is a multiplier: each new home generates demand for lumber, appliances, furnishings, landscaping, and financial services. Strong starts signal builder confidence despite elevated mortgage rates, likely driven by the severe shortage of existing homes for sale.
Frequently asked
Average Hourly Earnings Growth is currently 3.8%, down -0.2% from the previous reading. Source: Bureau of Labor Statistics, updated monthly.
Housing Starts (Annualized) is currently 1,501K, up +151.0K from the previous reading. Source: U.S. Census Bureau, updated monthly.
Wage growth at 3.8% year-over-year outpaces current inflation, meaning workers are gaining real purchasing power. For executives, this signals continued pressure on labor budgets — compensation packag Housing starts jumped to 1.50 million annualized, a strong reading. For executives, residential construction is a multiplier: each new home generates demand for lumber, appliances, furnishings, landsc