Average Hourly Earnings Growth vs 10-Year Treasury Yield
Average Hourly Earnings Growth is currently 3.8% (down -0.2%). 10-Year Treasury Yield is currently 4.1% (down -0.1%).
| Metric | Average Hourly Earnings Growth | 10-Year Treasury Yield |
|---|---|---|
| Current value | 3.8% | 4.1% |
| Previous reading | 4% | 4.25% |
| Change | -0.2% | -0.1% |
| Trend | down | down |
| Frequency | Monthly | Daily |
| Source | Bureau of Labor Statistics | U.S. Treasury |
| Last updated | 2026-04-04 | 2026-04-04 |
| Category | employment | rates |
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 10-Year Treasury Yield measures
The 10-year Treasury yield is the return investors earn on U.S. government bonds maturing in 10 years. It serves as the benchmark for mortgage rates, corporate bond yields, and the global risk-free rate.
The 10-year yield at 4.12% reflects market expectations for interest rates, inflation, and economic growth over the next decade. For executives, this rate directly affects: corporate borrowing costs (investment-grade bonds typically yield 10Y + 1-2%), mortgage rates (typically 10Y + 1.5-2%), and equity valuations (higher yields make bonds more competitive with stocks, pressuring P/E ratios).
Frequently asked
Average Hourly Earnings Growth is currently 3.8%, down -0.2% from the previous reading. Source: Bureau of Labor Statistics, updated monthly.
10-Year Treasury Yield is currently 4.1%, down -0.1% from the previous reading. Source: U.S. Treasury, updated daily.
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 The 10-year yield at 4.12% reflects market expectations for interest rates, inflation, and economic growth over the next decade. For executives, this rate directly affects: corporate borrowing costs (