Average Hourly Earnings Growth vs Retail Sales (Monthly Change)
Average Hourly Earnings Growth is currently 3.8% (down -0.2%). Retail Sales (Monthly Change) is currently -0.2% (down -0.4%).
| Metric | Average Hourly Earnings Growth | Retail Sales (Monthly Change) |
|---|---|---|
| Current value | 3.8% | -0.2% |
| Previous reading | 4% | 0.2% |
| Change | -0.2% | -0.4% |
| Trend | down | down |
| Frequency | Monthly | Monthly |
| Source | Bureau of Labor Statistics | U.S. Census Bureau |
| Last updated | 2026-04-04 | 2026-03-17 |
| Category | employment | consumer |
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 Retail Sales (Monthly Change) measures
Retail sales measures the total receipts of retail stores, covering purchases of durable and nondurable goods. It is a timely indicator of consumer demand and is closely watched for signs of economic strength or weakness.
Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data suggests consumers are pulling back on discretionary purchases while maintaining spending on essentials. E-commerce continues to gain share of total retail sales.
Frequently asked
Average Hourly Earnings Growth is currently 3.8%, down -0.2% from the previous reading. Source: Bureau of Labor Statistics, updated monthly.
Retail Sales (Monthly Change) is currently -0.2%, down -0.4% 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 Retail sales declined 0.2% in the latest report, following a weak January (-0.9%). Excluding autos and gas, the picture is slightly better. For executives in retail and consumer goods, the data sugges