This data from the Bureau of Labor Statistics was released today:
"Real average weekly earnings increased by 0.3 percent from July to August after seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. A 0.3 percent increase in average hourly earnings and a 0.3 percent rise in average weekly hours were partly offset by a 0.3 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)."
This seems to indicate no gain whatsoever. In fact, if more hours were added to the work week, and the CPI rose, aren't workers losing out a bit here?
Question: When the govt. refers to "real weekly earnings," as above, do they really mean "real earnings," which I have always taken to refer to actual purchasing power, or is it something else?
Brian
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"And Mr. Block thinks he may / Be President some day." - Joe Hill, "Mr. Block"