An official website of the United States government
For release 10:00 a.m. (ET) Thursday, January 18, 2024 USDL-24-0068 Technical information: (202) 691-6378 * cpsinfo@bls.gov * www.bls.gov/cps Media contact: (202) 691-5902 * PressOffice@bls.gov USUAL WEEKLY EARNINGS OF WAGE AND SALARY WORKERS FOURTH QUARTER 2023 Median weekly earnings of the nation's 120.8 million full-time wage and salary workers were $1,145 in the fourth quarter of 2023 (not seasonally adjusted), the U.S. Bureau of Labor Statistics reported today. This was 5.5 percent higher than a year earlier, compared with a gain of 3.2 percent in the Consumer Price Index for All Urban Consumers (CPI-U) over the same period. Data on usual weekly earnings are collected as part of the Current Population Survey, a nationwide sample survey of households in which respondents are asked, among other things, how much each wage and salary worker usually earns. (See the Technical Note in this news release.) Data shown in this news release are not seasonally adjusted unless otherwise specified. Highlights from the fourth-quarter data: --Median weekly earnings of full-time workers were $1,145 in the fourth quarter of 2023. Women had median weekly earnings of $1,031, or 83.8 percent of the $1,231 median for men. (See table 2.) --The women's-to-men's earnings ratio varied by race and ethnicity. White women earned 84.1 percent as much as their male counterparts, compared with 93.9 percent for Black women, 78.3 percent for Asian women, and 87.8 percent for Hispanic women. (See table 2.) --Among the major race and ethnicity groups, median earnings of Hispanics who worked full time ($884) were lower than those of Blacks ($967), Whites ($1,157), and Asians ($1,528). By sex, median weekly earnings for Black men were $997, or 80.2 percent of the median for White men ($1,243). Median earnings for Hispanic men were $923, or 74.3 percent of the median for White men. The difference was less among women, as Black women's median earnings were $936, or 89.6 percent of those for White women ($1,045), and earnings for Hispanic women were $810, or 77.5 percent of those for White women. Earnings of Asian men ($1,731) and women ($1,356) were higher than those of their White counterparts. (See table 2.) --By age, usual weekly earnings were highest for men ages 35 to 64: median weekly earnings were $1,403 for men ages 35 to 44, $1,401 for men ages 45 to 54, and $1,388 for men ages 55 to 64. Among women, usual weekly earnings were also highest for workers ages 35 to 64: median weekly earnings were $1,172 for women ages 35 to 44, $1,145 for women ages 45 to 54, and $1,101 for women ages 55 to 64. Men and women ages 16 to 24 had the lowest median weekly earnings, $761 and $707, respectively. Men's and women's earnings were closer among younger workers than older workers; for example, women ages 16 to 24 earned 92.9 percent as much as men in the same age group, while the women's-to-men's earnings ratio was 77.8 percent for those age 55 and over. (See table 3.) --Among the major occupational groups, persons employed full time in management, professional, and related occupations had the highest median weekly earnings—$1,778 for men and $1,380 for women. Persons employed in service occupations earned the least—$821 for men, and $678 for women. (See table 4.) --By educational attainment, full-time workers age 25 and over without a high school diploma had median weekly earnings of $713, compared with $917 for high school graduates (no college) and $1,608 for those holding at least a bachelor's degree. Among college graduates with advanced degrees (master's, professional, and doctoral degrees), the highest earning 10 percent of male workers made $4,623 or more per week, compared with $3,443 or more for their female counterparts. (See table 5.) --Seasonally adjusted median weekly earnings increased to $1,142 in the fourth quarter of 2023, up from the previous quarter ($1,119). (See table 1.) 2023 Annual Averages In addition to the data for the fourth quarter, this news release includes 2023 annual averages on median weekly earnings for major demographic, occupational, and educational attainment groups. (See tables 7, 8, and 9.) Annual average data on median usual weekly earnings for men and women by detailed occupational categories will be posted online at www.bls.gov/cps/tables.htm#weekearn when they become available. __________________________________________________________________________________________ | | | Revision of Seasonally Adjusted Usual Weekly Earnings Data | | | | Seasonally adjusted median usual weekly earnings data shown in table 1 of this news | | release have been revised using updated seasonal adjustment factors from the Current | | Population Survey, a procedure done at the end of each calendar year. The revisions | | directly affected the number of full-time wage and salary workers and current dollar | | estimates of median weekly earnings; estimates of constant (1982-84) dollar median | | weekly earnings were indirectly affected. Seasonally adjusted estimates back to the | | first quarter of 2019 were subject to revision. | | | | The Usual Weekly Earnings news release for the first quarter of 2024, scheduled for | | release on April 16, 2024, will incorporate revisions to the seasonally adjusted data | | for the median weekly earnings in constant (1982-84) dollars. Seasonally adjusted | | constant (1982-84) dollar estimates back to the first quarter of 2019 will be subject | | to revision due to annual revisions to seasonally adjusted data for the Consumer Price | | Index for All Urban Consumers (CPI-U). | |__________________________________________________________________________________________|