US real average hourly earnings up by 0.2% in August

US real average hourly earnings for all employees increased by 0.2 per cent from July to August 2024, according to seasonally adjusted data. This growth came from a 0.4 per cent rise in average hourly earnings and a 0.2 per cent increase in the Consumer Price Index for All Urban Consumers (CPI-U), the US Bureau of Labor Statistics (BLS) reported.

Real average weekly earnings grew by 0.5 per cent over the same period, driven by the rise in hourly earnings and a 0.3 per cent longer workweek.

On a year on year (YoY) basis, real average hourly earnings climbed by 1.3 per cent from August 2023 to August 2024. Despite a 0.3 per cent shorter workweek, real average weekly earnings increased by 0.9 per cent during the same timeframe.

Production and nonsupervisory employees saw a 0.2 per cent rise in real average hourly earnings from July to August 2024, fueled by a 0.4 per cent increase in hourly earnings and a 0.1 per cent rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Real average weekly earnings for this group also increased by 0.2 per cent, with the workweek remaining unchanged.

YoY, real average hourly earnings for production and nonsupervisory employees rose by 1.5 per cent, while a 0.3 per cent reduction in the average workweek led to a 1.3 per cent rise in real average weekly earnings.

Attribution: US Bureau of Labor Statistics

Subediting: M. S. Salama