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Investing August 15, 2007
Real Average Earnings Dip in July
August 15, 2007 (PLANSPONSOR.com) - Real average
weekly earnings fell by 0.1% in July, according to
preliminary data from the Bureau of Labor Statistics (BLS) of
the U.S. Department of Labor.
Reported by Adrien Martin
The small dip follows a slight increase the month before, when average weekly earnings rose by 0.5% (See Real Average Earnings Inched Up in June ).
A 0.3% increase in average hourly earnings was partially offset by a 0.3% decrease in average weekly hours and a 0.1% increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), according to a BLS press release .
Average weekly earnings rose by 3.6% from July 2006 to July 2007. After deflation by the CPI-W, average weekly earnings increased by 1.3%.
Before adjustment for seasonal changes and inflation, average weekly earnings were $595.76 in July 2007, compared with $572.85 a year earlier.
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