In conjunction with the CPI report, the BLS also releases a Report on Real Earnings.

All employees

  • Real average hourly earnings for all employees were unchanged from June to July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a 0.3-percent increase in average hourly earnings combined with a 0.2-percent increase in the Consumer Price Index for All Urban Consumers (CPI-U).
  • Real average weekly earnings decreased 0.2 percent over the month due to no change in real average hourly earnings combined with a 0.3-percent decrease in the average workweek.

Real Hourly Earnings All Employees, Month-Over-Month Change

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Production and Nonsupervisory Employees

  • Real average hourly earnings for production and nonsupervisory employees decreased 0.1 percent from June to July, seasonally adjusted. This result stems from a 0.1-percent increase in average hourly earnings combined with a 0.1-percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
  • After combining the change in real average hourly earnings with no change in average weekly hours, real average weekly earnings were unchanged over the month.

Real Hourly Earnings Production and Nonsupervisory Workers, Month-Over-Month Change

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Year-Over Year

  • All Workers: From July 2017 to July 2018, Real average hourly earnings decreased 0.2 percent, seasonally adjusted. Combining the change in real average hourly earnings with the 0.3-percent increase in the average workweek resulted in a 0.1-percent increase in real average weekly earnings over this period.
  • Production and Nonsupervisory: From July 2017 to July 2018, real average hourly earnings decreased 0.4 percent, seasonally adjusted. Combining the change in real average hourly earnings with a 0.3-percent increase in the average workweek resulted in a 0.1-percent decrease in real average weekly earnings over this period.

Congratulations Not in Order

Production and supervisory workers are working longer hours and taking home less pay in real terms.

Bear in mind these are averages. Pay raises are skewed to the top employees. The median worker is even worse off.

Thank the Fed.

Want to buy a starter home? Forget about it.

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Mike "Mish" Shedlock

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 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 Hourly Earnings Decline YoY for Production Workers, Flat for All Employees

Today's CPI report that shows inflation rose only 0.1%. Real wages are not keeping up even with that.

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.

Import Prices Decline Year-Over-Year, Export Prices Slightly Positive

In the wake of the declining price of oil, import and export prices are on a downward slope.

Hooray! Your Real Earnings Declined in August

The BLS Real Earnings Report for August shows your average earnings decreased 0.3% for the month due to a rise in the CPI coupled with no wage gains.

Real Hourly Earnings: Assuming You Believe the CPI

In the past year, real wages rose eight months, fell once, and were flat three times.

Congratulations Workers! You Make One Penny More Than a Year Ago

Real wages for production and nonsupervisory workers are up precisely one penny per hour from January of 2017.

Imaginary Wage-Inflation Conundrum

Economists are puzzled over the wage growth conundrum. Wages were supposed to rise significantly. They didn't. Why?