Real average hourly earnings for all US employees fell 1.0% in June from May to $10.86, according to seasonally adjusted data from the US Bureau of Labor Statistics. While average hourly earnings actually rose 0.3% in June, a 1.3% increase in the Consumer Price Index for All Urban Consumers caused the decrease in real average hourly earnings.
Year over year, real average hourly earnings were down 3.6% on a seasonally adjusted basis.
The BLS reported the Consumer Price Index for All Urban Consumers jumped 9.1% year over year in June before seasonal adjustment. The Hill reported that’s the highest level since 1981.
Real average hourly earnings for production and nonsupervisory employees fell 1.1% in June from May to $9.42. While average hourly earnings rose 0.5%, there was a 1.5% increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers.