Get more! Sign up for PLANSPONSOR newsletters.
Investing February 22, 2006
January Earnings See Downtick
February 22, 2005 (PLANSPONSOR.com) - Real average
weekly earnings fell by 0.2% in January 2006 after seasonal
adjustment, according to preliminary government
data.
Reported by Fred Schneyer
The Bureau of Labor Statistics (BLS) data from the US Department of Labor indicated that the fallback stemmed from a 0.7% increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which was partially offset by a 0.4% increase in average hourly earnings. Average weekly hours were unchanged during the period.
Average weekly earnings rose by 3.6%, seasonally adjusted, from January 2005 to January 2006. After deflation by the CPI-W, average weekly earnings decreased by 0.4%.
Before adjustment for seasonal change and inflation, average weekly earnings were $558.38 in January 2006, compared with $537.26 a year earlier.