BLS releases latest Real Earnings... May 10, 2023

The BLS has released the latest Real Earnings Report.

Real average hourly earnings for all employees increased 0.1 percent from March to April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.5 percent in average hourly earnings combined with an increase of 0.4 percent in the Consumer Price Index for All Urban Consumers (CPI-U).

Real average weekly earnings increased 0.1 percent over the month due to the change in real average hourly earnings combined with no change in the average workweek.  

Real average hourly earnings decreased 0.5 percent, seasonally adjusted, from April 2022 to April 2023. The change in real average hourly earnings combined with a decrease of 0.6 percent in the average workweek resulted in a 1.1-percent decrease in real average weekly earnings over this period.

 Now for some charts...

This chart indicates the hourly earnings are back to December wages, which is one penny below February, 2020.

The following chart indicates 8¢ a week below Feb, 2020.

Up 14¢ an hour...

Up $5.52 weekly, from Feb. 2020.

As real wages are not yet back to Feb. 2020 levels, and is not keeping up with inflation... it is hard to imagine the claim that labor is causing inflation. In some sectors, but not overall, imho.