On Wednesday, the BLS announced Real Earnings for January 2018.

All employees

Real average hourly earnings for all employees decreased 0.2 percent from December to January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a 0.3-percent increase in average hourly earnings offset by a 0.5-percent increase in the Consumer Price Index for All Urban Consumers (CPI-U).

Real average weekly earnings decreased 0.8 percent over the month due to the decrease in real average hourly earnings combined with a 0.6-percent decrease in the average workweek.

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Production and nonsupervisory employees

Real average hourly earnings for production and nonsupervisory employees decreased 0.5 percent from December to January, seasonally adjusted. This result stems from a 0.1-percent increase in average hourly earnings offset by a 0.6-percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

Real average weekly earnings decreased 0.8 percent over the month due to the decrease in real average hourly earnings combined with a 0.3-percent decrease in average weekly hours.

From January 2017 to January 2018, real average hourly earnings increased 0.1 percent, seasonally adjusted. The increase in real average hourly earnings combined with no change in the average workweek resulted in a 0.2-percent increase in real average weekly earnings over this period.

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Hooray!

Production and nonsupervisory workers make a penny more per hour. In the all employees category we see sterling results: an increase of eight cents per hour.

If you are a production worker, who works 40 hours a week with two week's paid vacation you have an extra $20.08 to spend in real terms compared to a year ago, that's an extra $1.67 per month.

If you are management, you make the big bucks. You have an extra $160.64 in real terms. That's an extra $13.39 per month.

The pundits are all worried about wage inflation.

Spend it wisely folks.

Wage Inflation

A week ago I reported Acceleration in Wage Growth is a Statistical Mirage.

The situation is even worse than I thought.

Mike "Mish" Shedlock

Congratulations Workers! You Make a Penny More Per Hour Than Last Month

The average worker makes a penny more per hour than last month in real terms. The year-over-year gain is precisely zero.

Congratulations Workers, You Now Make 0.5% More Than a Year Ago

In real (inflation-adjusted) terms workers make 0.5% more than a year ago, assuming one believes the CPI.

Congratulations Workers: You Make 0.3% More Per Hour Than One Year Ago

In real terms, workers make 0.3% more per hour than a year ago, assuming one believes the BLS CPI Statistics.

Real Wages Decline in December, Barely Up From Year Ago

Real wages for production workers fell 0.2% in Dec. Real wages for all employees fell 0.1%. Both barely up from yr ago.

Real Hourly Earnings Scorecards: Employees Making Way Less Than 9 Months Ago

Hourly wages, in real terms, have been on the decline for nine months.

Congratulations! BLS Says You Make 2.33% More Than Last Year: Does That Cover the Bills?

Economists keep expecting a big boom in consumer spending. They also expect a huge wage-price spiral. I expect neither. Let’s investigate.

Real Earnings Have Gone Nowhere For a Full Year

Real hourly wages have risen but average hours worked fell. The combination leaves the average worker no better off.

Real Wages Decline Year-Over-Year

Wages are not keeping up with consumer price inflation. The average worker is worse off than a year ago.