Real earnings, which factor in the effects of inflation, still aren't as high as they were a year ago...but there was a teeny uptick in May.

The U.S. Bureau of Labor Statistics said real average hourly earnings for all employees edged up 0.1 percent last month.

The seasonally adjusted raise "stemmed from a 0.3 percent increase in average hourly earnings, partially offset by a 0.2 percent increase in the Consumer Price Index for All
Urban Consumers," the bureau said today.

Real average weekly earnings also rose 0.1 percent over the month.

But the big picture shows that since reaching a recent peak in October 2010, real average weekly earnings have fallen by 1.4 percent.

Real average hourly earnings have fallen by 1.6 percent, seasonally adjusted, from May 2010 to May 2011.