When it comes to jobs, if there is one trend that really set apart 2018 from any prior year of this expansion, it is that ordinary workers are finally getting decent raises.
Let’s start by looking at the monthly % change in average hourly wages for non-managerial workers for the entire duration of this expansion. Since this has averaged about +0.2%/month, I’ve subtracted that so that any month above 0 is an above average increase in nominal hourly pay for ordinary workers:
Look at the far right. In ten of the last twelve months, average hourly wages have increased by more than the norm for this expansion.