US real earnings rise 0.2% in Sept

Real average hourly earnings for all US employees increased by 0.2 per cent from August to September 2024, according to the US Bureau of Labour Statistics (BLS).

The rise was driven by a 0.4 per cent boost in hourly wages, partially offset by a 0.2 per cent increase in consumer prices. However, real average weekly earnings fell by 0.1 per cent due to a shorter workweek.

On an annual basis, the real hourly earnings rose 1.5 per cent, with real weekly earnings increasing by 0.9 per cent despite a 0.6 per cent reduction in the average workweek.

For production and non-supervisory employees, real hourly earnings in September saw a modest 0.1 per cent increase, driven by a 0.3 per cent wage increase and a 0.1 per cent rise in consumer prices. Their real weekly earnings also grew by 0.1 per cent over the month, with no change in the workweek.

Compared to last year, real hourly earnings grew by 1.8 per cent, resulting in a 1.4 per cent rise in weekly earnings despite a slightly shorter workweek.

Attribution: REAL EARNINGS – SEPTEMBER 2024

Subediting: Y.Yasser