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Real earnings fall 0.8%

August 14 2008

Real average weekly earnings fell 0.8% month-over-month in July, according to preliminary, seasonally adjusted data released today by the U.S. Bureau of Labor Statistics. An 0.3% increase in average hourly earnings was more than offset by an 0.3% decrease in average weekly hours and an 0.9% increase in the consumer price index for urban wage earners and clerical workers.

Average weekly earnings were $606.26 in July before seasonal adjustment and inflation, compared with $596.45 a year earlier.

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