This morning, the Bureau of Labor Statistics (BLS) released May 2012 figures for Real Earnings. The Real Earnings indicator reflects three components of consumer buying power: average hourly earnings, average weekly hours, and price inflation/deflation.
Real average hourly earnings increased 0.3% from April to May, as average hourly earnings incraesed and inflation (as measured by the Consumer Price Index) decreased over the same period. The following chart illustrates the monthly percent change in real average hourly earnings; May marks the second straight month of increasing real earnings. (Figures below reflect the earnings of all employees on private, non-farm payrolls).
Source: U.S. Bureau of Labor Statistics
1Avg Weekly Earnings * (1+ % change in CPI-U)
Source: U.S. Bureau of Labor Statistics
Source: U.S. Bureau of Labor Statistics
The full press release can be found on the BLS website.
