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Investing September 15, 2006
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).
Reported by Rebecca Moore
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 .
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