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Wage Growth Outpaces Inflation Amid Rising Unemployment

3/7/2026

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Summary

Story summary

The Labor Department's February jobs report shows wages rising faster than inflation, with average hourly earnings up 0.4% to $37.32 and a 3.8% rise, up from 3.7% in January.
However, the economy shed 92,000 jobs and the unemployment rate increased from 4.3% to 4.4%.
Economists warn of slower job growth and predict wage growth may ease to 3.5% later in 2026.
Inflation remains a challenge, particularly for lower-income households.

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Story summary

The Labor Department's February jobs report shows wages rising faster than inflation, with average hourly earnings up 0.4% to $37.32 and a 3.8% rise, up from 3.7% in January.
However, the economy shed 92,000 jobs and the unemployment rate increased from 4.3% to 4.4%.
Economists warn of slower job growth and predict wage growth may ease to 3.5% later in 2026.
Inflation remains a challenge, particularly for lower-income households.