Asset Based Loan

Real average hourly earnings drop in August

Real average hourly earnings dropped .7%  from July to August according to the September 16th 8:30 A.M. report by the Bureau of Labor Statistics.

The bureau reported that the dropped due to a combination of no change in average hourly earnings and an increase in the Consumer Price Index of .6% for the same period.  Since reaching a peak in October 2010, real average weekly earnings have fallen 1.3%.

On an annual basis, seasonally adjusted real average hourly earnings were unchanged from August 2011 to August 2012.   The unchanged real average hourly earnings, combined with a .3% increase in the average workweek, resulted in a .3% increase in real average weekly earnings over this period.