Real average weekly earnings rose 1.4 percent from October to November after seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. This increase stemmed from a 0.9 percent rise in average weekly hours and a 0.6 percent increase in average hourly earnings. This gain was slightly offset by a 0.1 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

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 4.9 percent between November of 1996 and 1997 as a result of a 4.2 percent increase in average hourly earnings and a 0.6 percent increase in average weekly hours. After adjustment for a 1.7 percent gain in the CPI-W over the same period, real average weekly earnings rose by 3.1 percent. Before adjustment for seasonal change and deflation by the CPI-W, average weekly earnings were $434.10 in November 1997, compared with $414.00 a year earlier.

December 16, 1997 U.S. Department of Labor

Consensus National Futures and Financial On Line Index

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