Real average weekly earnings: down again
By Lee Russ
Wednesday, August 16, 2006 at 04:22 PM
In Bushworld, the economy is bright, jobs are plentiful, and the world itself is smelling very rose-like.
In the news, real average weekly earnings dipped again last month and, by my calculations, are down overall for the period from June of 2005 through the end of July, 2006. And that rose-like aroma seems suspiciously like a cheap aerosol air freshener concealing something just a little more...pungent.The BLS announced that:
Real average weekly earnings decreased by 0.1 percent from June to July after seasonal adjustment, according to preliminary data released today by the Bureau of Labor Statistics of the U.S. Department of Labor. A 0.4 percent increase in average hourly earnings was more than offset by a 0.5 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged.
Before adjustment for seasonal change and inflation, average weekly earnings were $571.48 in July 2006, compared with $542.49 a year earlier.
Average weekly earnings rose by 4.1 percent, seasonally adjusted, from July 2005 to July 2006, but after considering consumer price increases, average weekly earnings decreased by 0.1 percent.
Figures on percent change from preceding month, seasonally adjusted, for June 2005 through July, 2006:
If my math is correct, the overall change from 7/05 through 7/06 is a -.2. And the prez & his circle of fools is running around the country trying to tout the great economic recovery and supposed jobs bonanza as reasons for electing more Republicans.