Lower-wage industries reported that
average hourly earnings in those sectors jumped 4.6% from a year ago, considerably above the 2.5% pay gain for higher-wage industries, according to an analysis of the jobs report by Martha Gimbel, research director at the jobs site Indeed.
At $23.38, today's
average hourly earnings exceed the longtime peak dating back to February 1973 by 5 cents.
Average hourly earnings rose 0.2 per cent from the prior month, missing estimates.
Average hourly earnings increased by 0.4 percent after rising by 0.1 percent in January.
Average hourly earnings in construction are now 10.3 percent higher than the average for all nonfarm private-sector jobs, which rose 2.9 percent in the past year, to $27.16.
Many cite a shortage of drivers as a cause, but another Labor Department gauge shows
average hourly earnings for those employed in the long-haul trucking industry rose just 0.5 percent in the 12 months through June.
However, annual growth in
average hourly earnings slowed to 2.6 percent after a spike in January.
The acceleration in
average hourly earnings growth punches a hole in the narrative that wage growth remains lackluster, said Scott Anderson, chief economist at Bank of the West in San Francisco.
Average hourly earnings, on the other hand, remained stuck at 2.5 per cent and have failed to rise higher in the past few months.
Total labor costs in the trucking industry increased 2.4% as
average hourly earnings settled around $22.70 at the end last year.
However, the dollar soon appreciated following last week's labor statistics, showing 156,000 job creations with an increase of 2.9 percent in
average hourly earnings in December 2016.
Average hourly earnings for American workers rose 2.8%.