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FEDERAL RESERVE BANK OF SAN FRANCISCO Wage Rigidity Meter The statistics on this page offer a closer examination of the annual wage changes of U.S. workers that have not changed jobs over the year. They include graphs of the fraction of workers receiving a wage change of zero in several demographic subgroups of the U.S. labor force, as well as a histogram showing all of the reported wage changes among these workers in the last four quarters. The data for these statistics are drawn from a matched Current Population Survey dataset (see Daly, Hobijn, Wiles 2011 for details on the matching procedure). The Current Population Survey is a monthly nationally representative survey conducted by the Bureau of Labor Statistics. The summary statistics on this page will be updated on a quarterly frequency. Displayed is a histogram of reported wage changes over the past year for U.S. workers that have not changed jobs throughout the year. This histogram is overlaid with a normal distribution centered at the median reported wage change. Estimates of the percent of workers with a rigid wage in time series charts are averages of monthly rates taken over a 12-month period. In the histogram and the table below, all observations over a 12-month period are pooled and then used to calculate the percent of rigid wages. Estimates from these two methods may differ very slightly. Distribution of Nominal Wage Changes 4-Qu arter A verage 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 Di fference of l og w age from one year pri or 25th Percentile -0.025 -0.023 -0.020 -0.016 -0.013 Median 0.019 0.020 0.022 0.025 0.026 75th Percentile 0.105 0.105 0.105 0.108 0.111 15.54 15.53 15.48 15.46 Pe r ce nta g e of wo r k e r s r e p o r t in g a w age ch an ge of zero 15.4 References Daly, Mary C., Bart Hobijn, and Brian Lucking. 2012. Why Has Wage Growth Stayed Strong? FRBSF Economic Letter 2012-11 (April 2). Daly, Mary C., Bart Hobijn, and Theodore S. Wiles. 2011. Dissecting Aggregate Real Wage Fluctuations: Individual Wage Growth and the Composition Effect FRBSF Working Paper 2011-23. Nominal Wage Rigidity Data Release (Excel document, 261 kb) Find out when data are updated through our Twitter page: Twitter for SF Fed Contact Bart.Hobijn (at) sf.frb.org
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