Average hourly earnings for all employees on US private nonfarm payrolls rose by 2 cents, or 0.1%, to $37.62 in July 2026, slowing from a 0.3% increase in June and falling short of the expected 0.3% gain. Average hourly earnings for private-sector production and nonsupervisory employees were little changed, edging up 4 cents to $32.40. On an annual basis, average hourly earnings increased 3.2%, down from a downwardly revised 3.4% rise in June and below analysts' estimates for a 3.4% increase.