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Real average weekly earnings fell by 0.5% in January from December, according to preliminary, seasonally adjusted data released today by the U.S. Bureau of Labor Statistics. Earnings were hit by a 0.3% decrease in average weekly hours. In addition, a 0.2% increase in average hourly earnings was partially offset by a 0.4% increase in the consumer price index for urban wage earners and clerical workers.
Average weekly earnings were $592.74 in January before seasonal adjustment and inflation, compared with $573.14 in January 2007.