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The BLS published its monthly report on Real Earnings today. The average employee is getting hammered because prices are rising faster than wages.

All employees

  • Real average hourly earnings for all employees were unchanged from March to April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a 0.1-percent increase in average hourly earnings being offset by a 0.2-percent increase in the Consumer Price Index for All Urban Consumers (CPI-U).
  • Real average weekly earnings decreased 0.1 percent over the month due to no change in both real average hourly earnings and the average workweek.
  • Real average hourly earnings increased 0.2 percent, seasonally adjusted, from April 2017 to April 2018. The increase in real average hourly earnings combined with a 0.3-percent increase in the average workweek resulted in a 0.4-percent increase in real average weekly earnings over this period.

Production and nonsupervisory employees

  • Real average hourly earnings for production and nonsupervisory employees decreased 0.1 percent from March to April, seasonally adjusted. This result stems from a 0.2-percent increase in average hourly earnings combined with a 0.3-percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
  • Real average weekly earnings increased 0.3 percent over the month due to the decrease in real average hourly earnings combined with a 0.3-percent increase in average weekly hours.
  • From April 2017 to April 2018, real average hourly earnings were unchanged, seasonally adjusted. Combining real average hourly earnings with a 0.3-percent increase in the average workweek resulted in a 0.3-percent increase in real average weekly earnings over this period.

Production Scorecard

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Spend it Wisely

  • For the full year, the BLS reports production and supervisory workers make 0% more per hour than they did a year ago.
  • For the full year, the BLS reports all workers make 0.2% more per hour than they did a year ago. Spend it wisely.

Median Hourly Earnings

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Average reports are a distortion because most of the increases tend to go to the top 10% of workers.

The BLS posts median wages on a lag. 2017 data will be posted in a month or so.

Meanwhile, please note that median hourly earnings are down 7 out of the last 11 years.

Try buying a house on that. And of course, houses are not even in the CPI.

For discussion, please see How the Fed's Inflation Policies Crucify Workers in Pictures.​