Weekly Earnings Take a Dip in August

September 15, 2006 (PLANSPONSOR.com) - Real average weekly earnings fell by 0.5% in August, according to preliminary data from the Department of Labor's Bureau of Labor Statistics (BLS).

A BLS news release said a 0.3% decline in average weekly hours and a 0.4% increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) were partially offset by 0.1% rise in average hourly earnings.

From August 2005 to August 2006, average weekly earnings increased 4.2% after seasonal adjustment. After deflation by the CPI-W, average weekly earnings increased 0.3%, according to the news release.

Average weekly earnings were $567.12 in August 2006, before adjustment for seasonal change and inflation, compared to $544.43 in August 2005.

Weekly earnings by industry can be viewed here .

«