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).

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 .