The Average Hourly Earnings y/y indicator reflects current month changes in the average hourly earnings in most non-agricultural industries compared to the same month of the previous year.
The indicator only includes employees of private companies. The calculation is based on a survey of approximately 147,000 companies, which provide around 634,000 jobs across the United States.
Average hourly earnings are included in some other indicators of the US economy. For example, earnings data allow evaluating employment, profit trends and inflation of wages. This data is also used in the calculation of personal income.
An increase in average hourly earnings leads to an improvement of saving possibilities and to the growth of regular consumption. A higher consumption activity is an indication of a higher economic activity in the country. Thus, an increase in the average hourly earnings indicates an improvement in economic conditions. Also growth of wages points to the inflationary growth.
Therefore, the indicator growth may have a positive effect on dollar quotes.
The chart of the entire available history of the "United States Average Hourly Earnings y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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