A 0.3 percent increase in average hourly earnings and average weekly hours worked was offset in March by a 0.4 percent rise in inflation, as measured by the consumer price index.
According to preliminary data released today by the U.S. Bureau of Labor Statistics, that meant real average weekly earnings rose by 0.2 percent from February to March.
The data, from payroll reports at private, nonfarm establishments, indicated that average weekly earnings rose by 3.3 percent, seasonally adjusted, from March 2007 to March 2008.
But, after adjusting for inflation, real year-to-year average weekly earnings fell by 1 percent.
Nominally — without adjusting for seasonal changes and inflation — average weekly earnings were $607.49 in March 2008, compared with $580.99 a year earlier.
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