Paychecks keep rising for American workers, providing boost to household budgets

The Labor Department's latest jobs report showed that American workers' wage gains are continuing to outpace stubbornly high inflation.

The Bureau of Labor Statistics released its jobs report for February Friday, which showed that workers' average hourly earnings rose faster than expected last month.

Employees on private nonfarm payrolls saw their average hourly earnings rise by 15 cents, or 0.4%, on a monthly basis to $37.32 an hour. That outpaced the expected increase of 0.3% that was projected by LSEG economists.