In This Release Is Embargoed — 2001-08-16

Real average weekly earnings increased 0.6 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. This was due to a 0.3 percent increase in average hourly earnings and a 0.3 percent decline in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged. Data on average weekly earnings are collected from the payroll reports of private nonfarm establishments. Earnings of both full-time and part-time workers holding production or nonsupervisory jobs are included. Real average weekly earnings are calculated by adjusting earnings in current dollars for changes in the CPI-W. Average weekly earnings rose 3.8 percent, seasonally adjusted, from July 2000 to July 2001. After deflation by the CPI-W, average weekly earnings rose 1.1 percent. Before adjustment for seasonal change and inflation, average weekly earnings were $493.74 in July 2001, compared with $477.78 a year earlier.