This page shows the unemployment rate and wage growth for production and nonsupervisory workers since the 1980s. The two measures have had a historically inverse relationship and the high unemployment rate suggests weak wage growth. More importantly, the unemployment rate is now some way from what would be considered full employment by the U.S. Federal Reserve, further limiting the chance of a rate hike in the foreseeable future. The right hand chart illustrates how tight the U.S. labour market has become with the number of open jobs far outstripping the number of unemployed.