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REAL EARNINGS IN OCTOBER 1997
Real average weekly earnings grew 0.3 percent from September to October after seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. The increase resulted from a 0.5 percent increase in average hourly earnings. This gain was offset by a 0.2 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged over the month.
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.
Before seasonal adjustment, average weekly earnings increased 4.3 percent between October of 1996 and 1997 as a result of a 4.0 percent increase in average hourly earnings and a 0.3 percent increase in average weekly hours. After adjustment for a 1.9 percent gain in the CPI-W over the same period, real average weekly earnings grew by 2.3 percent. Before adjustment for seasonal change and deflation by the CPI-W, average weekly earnings were $430.08 in October 1997, compared with $412.28 a year earlier.
November 18, 1997 U.S. Department of Labor
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