Average hourly earnings miss

Wage growth since the Great Recession has remained fairly low, hovering around just 2%.

This is most likely not high enough to support the Fed's stated inflation target of 2% year-over-year.

Over the past few months, wages have grown at a somewhat faster rate than this, reaching a post-crisis high of 2.6% in June.

According to the August jobs report, released Friday, wages grew by 2.4% over the prior year,compared to expecations of 2.5%.

Elena Holodny/Business Insider