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Real average weekly earnings rose 2.3% in November from October, according to preliminary, seasonally adjusted data released today by the U.S. Bureau of Labor Statistics. The increase stemmed from a 0.4% increase in average hourly earnings and a 2.1% decrease in the consumer price index for urban wage earners and clerical workers. In addition, a 0.3% decrease in average weekly hours partially offset the two positive influences.
Average weekly earnings were $618.73 in November before seasonal adjustment and inflation, compared with $594.13 a year earlier.