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.

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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