Wage Pressure
FreshAtlanta Fed Wage Growth Tracker — monthly smoothed confirmation of wage stickiness and higher-for-longer risk
- Whether overall wage growth stays above the 3.5%-4.0% zone and persists for several months.
- Whether job-stayer wage growth remains high, pointing to stickiness rather than only switcher premia.
- Whether wage pressure aligns with CPI/PCE, breakevens, and policy expectations; only alignment strengthens the higher-for-longer story.
- The Wage Growth Tracker is monthly and smoothed; it explains stickiness better than intraday yield moves.
- Higher switcher wages can reflect labor mix or switching premia; if stayers do not confirm, avoid over-reading broad wage pressure.
Sourced through FRED from the Atlanta Fed Wage Growth Tracker. It is a monthly, smoothed labor-cost confirmation layer for inflation stickiness and higher-for-longer analysis, not a live market driver.
Sources: Atlanta Fed Wage Growth Tracker via FRED
Wage Pressure tracks whether labor income growth is sticky enough to reinforce services inflation and a higher-for-longer policy path. It is monthly confirmation, not a live yield driver.
Wage data strengthens the rates story only when it aligns with CPI/PCE, breakevens, and policy expectations; switcher wages alone can overstate broad pressure.
- The Atlanta Fed Wage Growth Tracker is monthly and smoothed, so it should not explain intraday Treasury moves.
- Switcher wage growth can reflect labor mix or switching premia; broad wage pressure needs confirmation from overall and stayer wages.
| Series | Label | Date | Value | Formatted Value |
|---|---|---|---|---|
| FRBATLWGT3MMAUMHWGO | Wage Growth Tracker Overall | 2026-05-01 | 3.5 | 3.5% |
| FRBATLWGT3MMAUMHWGJMJST | Wage Growth Tracker Job Stayer | 2026-05-01 | 3.3 | 3.3% |
| FRBATLWGT3MMAUMHWGJMJSW | Wage Growth Tracker Job Switcher | 2026-05-01 | 3.7 | 3.7% |
Sources·Atlanta Fed Wage Growth Tracker via FRED as of 2026-05-01