Research >> Economics
Real Average Hourly Earnings decreased 0.4% in February 2024
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All employees
Real average hourly earnings for all employees decreased 0.4 percent from January to February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.1 percent in average hourly earnings combined with an increase of 0.4 percent in the Consumer Price Index for All Urban Consumers (CPI-U).
Real average weekly earnings were unchanged over the month due to the change in real average hourly earnings combined with a 0.3-percent increase in the average workweek.
Real average hourly earnings increased 1.1 percent, seasonally adjusted, from February 2023 to February 2024. The change in real average hourly earnings combined with a decrease of 0.6 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 decreased 0.2 percent from January to February, seasonally adjusted. This result stems from a 0.2-percent increase in average hourly earnings combined with an increase of 0.5 percent in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)
Real average weekly earnings increased 0.6 percent over the month due to the change in real average hourly earnings combined with a 0.9-percent increase in the average workweek.
From February 2023 to February 2024, real average hourly earnings increased 1.4 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 1.1-percent increase in real average weekly earnings over this period.
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Posted: March 12, 2024 Tuesday 08:30 AM