US real average hourly earnings 0.5% up from April-May

US real average hourly earnings for all employees witnessed a 0.5 per cent increase from April to May. This uptake resulted from a 0.4 per cent rise in average hourly earnings, coupled with no change in the country’s CPI-U.

The real average weekly earnings also rose by 0.4 per cent over the month, buoyed by a shift in real average hourly earnings and a steady average workweek.

Comparing data from May 2023 to May 2024, real average hourly earnings showed a 0.8 per cent increase, adjusted for seasonal changes.

This was accompanied by a 0.5 per cent increase in real average weekly earnings over the same period, fueled by a 0.3 per cent decrease in the average workweek.

For production and non-supervisory employees, real average hourly earnings also rose by 0.5 per cent from April to May, adjusted for seasonal variations.

This growth stemmed from a 0.5 per cent increase in average hourly earnings and a slight 0.1 per cent decrease in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

Real average weekly earnings for this group increased by 0.8 per cent over the month, attributed to the rise in real average hourly earnings and a 0.3 per cent increase in the average workweek.

Comparatively, from May 2023 to May 2024, real average hourly earnings for production and non-supervisory employees increased by 0.8 per cent, adjusted for seasonal changes. This led to a 0.9 per cent rise in real average weekly earnings over the same period, as the average workweek remained unchanged.

Attribution: US Bureau of Labor Statistics report.