Real average weekly earnings increased by 0.8 percent from July to August after seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. This gain was due to a 0.4 percent increase in average hourly earnings and a 0.6 percent gain in average weekly hours. These gains were partially offset by an increase of 0.2 percent 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.

Before seasonal adjustment, average weekly earnings rose by 4.3 percent between August of 1996 and 1997 as a result of a 3.7 percent increase in average hourly earnings and a 0.6 percent rise in average weekly hours. After adjustment for a 2.1 percent increase in the CPI-W over the year, real average weekly earnings grew by 2.1 percent. Before adjustment for seasonal change and deflation by the CPI-W, average weekly earnings were $426.65 in August 1997, compared with $409.25 a year earlier.

September 16, 1997 U.S. Department of Labor

Consensus National Futures and Financial On Line Index

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