Investing November 16, 2005
October Earnings Tick Up
November 16, 2005 (PLANSPONSOR.com) - The government
reported Wednesday that real average weekly earnings, after
seasonal adjustment, rose by 0.4% from September to
October.
Reported by Fred Schneyer
The Bureau of Labor Statistics of the US Department of Labor said the hike stemmed from a 0.5% increase in average hourly earnings and a 0.1% uptick in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged.
Average weekly earnings rose by 2.9%, seasonally adjusted, from October 2004 to October 2005, according to the data.
With deflation factored in, average weekly earnings decreased by 1.6%. Before adjustment for seasonal change and inflation, average weekly earnings were $555.56 in October 2005, compared with $534.72 a year earlier.