Research >> Economics
Real Average Hourly Earnings increased 0.2% in December 2023
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All employees
Real average hourly earnings for all employees increased 0.2 percent from November to December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.4 percent in average hourly earnings combined with an increase of 0.3 percent in the Consumer Price Index for All Urban Consumers (CPI-U).
Real average weekly earnings decreased 0.2 percent over the month due to the change in real average hourly earnings combined with a 0.3-percent decrease in the average workweek.
Real average hourly earnings increased 0.8 percent, seasonally adjusted, from December 2022 to December 2023. The change in real average hourly earnings combined with a decrease of 0.3 percent in the average workweek resulted in a 0.5-percent increase in real average weekly earnings over this period.
Production and nonsupervisory employees
Real average hourly earnings for production and nonsupervisory employees were unchanged from November to December, seasonally adjusted. This result stems from a 0.3-percent increase in average hourly earnings being offset by an increase of 0.3 percent in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Real average weekly earnings decreased 0.3 percent over the month due to the change in real average hourly earnings being combined with a 0.3-percent decrease in the average workweek.
From December 2022 to December 2023, real average hourly earnings increased 1.0 percent, seasonally adjusted. The change in real average hourly earnings combined with a decrease of 0.3 percent in the average workweek resulted in a 0.7-percent increase in real average weekly earnings over this period.
Posted: January 11, 2024 Thursday 08:30 AM