Wednesday, October 19, 2011

Average earnings down in the U.S.

The BLS also released its Real Earnings report today. Localized data was not provided. According to the release:

Real average hourly earnings for all employees fell 0.1 percent from August to September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. A 0.2 percent increase in average hourly earnings was more than offset by a 0.3 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U).

Real average weekly earnings rose 0.2 percent over the month, as a result of the 0.3 percent increase in the average workweek and the decrease in real average hourly earnings. Since reaching a recent peak in October 2010, real average weekly earnings have fallen 2.0 percent.

Real average hourly earnings fell 1.9 percent, seasonally adjusted, from September 2010 to September 2011. This decrease combined with a 0.3 percent increase in average weekly hours resulted in a 1.7 percent decrease in real average weekly earnings during the same period.