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Investing March 16, 2007
Weekly Earnings Take Slight Dip in February
March 16, 2007 (PLANSPONSOR.com) - Real average
weekly earnings fell by 0.3% in February, according to
preliminary data from the Department of Labor's Bureau of
Labor Statistics (BLS).
Reported by Adrien Martin
Weekly earnings saw the same fall in January (See Weekly Earnings Drop Slightly in January ).
A BLS news release said the slight 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 a 0.4% rise in average hourly earnings.
Average weekly earnings climbed 3.8% from February 2006 to February 2007. After deflation by the CPI-W, average weekly earnings increased by 1.5% according to the news release.
Average weekly earnings were $574.81 in February 2007, compared to $553.76 a year earlier, before adjustment for seasonal change and inflation.
A breakdown by industry can be found here .