Average Earnings Down for All Workers, Median Earnings Also Down for Full-Time Workers

The Bureau of Labor Statistics has issued a pair of data sets indicating that workers are still not seeing real (i.e. inflation adjusted) increases in pay. Yesterday's Real Earnings report, based on data from the payroll reports of private nonfarm establishments of earnings of both full-time and part-time workers holding production or nonsupervisory jobs, shows: Real average weekly earnings fell by 0.9 percent from May to June after seasonal adjustment...Average weekly earnings rose by 2.8 percent, seasonally adjusted, from June 2007 to June 2008. After [adjusting for inflation], average weekly earnings decreased by 2.4 percent. Today's release of data on full-time workers, based on a "survey of households in which respondents are asked, among other things, how much each wage and salary worker usually earns," also reflects a weak economy: Median weekly earnings of the nation's 107.1 million full-time wage and salary workers were $719 in the second quarter of 2008....This was 4.2 percent higher than a year earlier, compared with a gain of 4.4 percent in the Consumer Price Index for All Urban Consumers (CPI-U) [i.e. inflation] over the same period.
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