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Real weekly earnings dip

November 15 2007

Real average weekly earnings fell 0.2% in October from September, according to preliminary, seasonally adjusted data released today by the U.S. Bureau of Labor Statistics. Earnings were hit by a 0.3% increase in the consumer price index for urban wage earners and clerical workers partially offset by a 0.2% increase in average hourly earnings.

Average weekly earnings were $595.22 in October before seasonal adjustment and inflation, compared with $582.08 in October 2006. Data on average weekly earnings are taken from nonfarm payrolls.

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