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Article Posted: 08/15/2007 8:30:12 AM
BLS: Real Earnings Fall 0.1 Percent
Real average weekly earnings fell by 0.1 percent from June to July after
seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. A 0.3 percent increase in average hourly earnings was offset by a 0.3 percent decrease in average weekly hours and a 0.1 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Data on average weekly earnings are collected from the payroll reports of
private nonfarm establishments. Earnings of both full-time and part-time
workers holding production or nonsupervisory jobs are included. Real average weekly earnings are calculated by adjusting earnings in current dollars for changes in the CPI-W.
Average weekly earnings rose by 3.6 percent, seasonally adjusted, from July 2006 to July 2007. After deflation by the CPI-W, average weekly earnings increased by 1.3 percent. Before adjustment for seasonal change and inflation, average weekly earnings were $595.76 in July 2007, compared with $572.85 a year earlier.
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