Hourly wages are still growing at a slightly better pace than in previous months.
Wage growth since the Great Recession has remained fairly low, hovering around just 2%. This is most likely not high enough to support the Fed's stated inflation target of 2% year-over-year. Last month's jobs report showed some improvement, with wages rising 2.5% over the prior year, which was a decent pace but below expectations.
According to the January jobs report, wages grew 2.5% during the last year, tied for the highest growth rate since the Great Recession and better than analysts' expectations for 2.2% growth:
