According to preliminary statistics from the Bureau of Labor Statistics of the DoL, real average weekly earnings fell by 0.4% after seasonal adjustments. A 0.3% increase in average hourly wages was offset by a 0.6% jump in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
In September, real average earnings were stagnant, as an increase in average earnings was cancelled out by a corresponding rise in inflation (See Inflation Rise Wipes Out Earnings Gain in September ).
Average weekly earnings rose by 2.9% from October 2003 to October 2004. After deflation by the CPI-W, average weekly earning feel by 0.4% over that timeframe. Before adjusting for seasonal change and inflation, the average weekly earnings were $535.39 in October of this year, up from $519.65 in the same month last year.
Data for the average weekly earnings come from non-farm payrolls. Both full-time and part-time production and nonsupervisory workers are included.
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