Real average weekly earnings declined by 0.1 percent from June to July after
seasonal adjustment, according to preliminary data released Friday by the Bureau
of Labor Statistics. A 0.3 percent increase in average hourly earnings was more
than offset by a 0.3 percent decrease in average weekly hours and a 0.1 percent
rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers
(CPI-W). For a Limited Time receive a
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Get Your Report Now!Data on average weekly earnings are collected from the payroll reports of private
nonfarm establishments. Earnings of both full-time and part-time workers holding
production or nonsupervisory jobs are included. Real average weekly earnings
are calculated by adjusting earnings in current dollars for changes in the CPI-W.
Average weekly earnings rose by 2.5 percent, seasonally adjusted, from July
2002 to July 2003. After deflation by the CPI-W, average weekly earnings increased
by 0.5 percent. Before adjustment for seasonal change and inflation, average
weekly earnings were $516.28 in July 2003, compared with $503.75 a year earlier.