By John S. McClenahen Last month, as U.S. factory output and housing starts were rising, American's real earnings were falling. Adjusted for inflation and seasonal variation, average weekly earnings fell by 0.4% in October, the U.S. Labor Department's ...
ByJohn S. McClenahen Last month, as U.S. factory output and housing starts were rising, American's real earnings were falling. Adjusted for inflation and seasonal variation, average weekly earnings fell by 0.4% in October, the U.S. Labor Department's Bureau of Labor Statistics reported on Nov. 17. The arithmetic was relatively simple: A 0.6% increase in the department's Consumer Price Index for Urban Wage Earners and Clerical Workers more than offset a 0.3% increase in average hourly earnings. Average weekly hours were unchanged. Not adjusted for inflation or seasonal variation, average weekly earnings were $535.39 in October, compared to $530.88 in September.
