Real average weekly earnings rose by 1.4 percent from September to October after seasonal adjustment. This increase stemmed from a 0.2 percent increase in average hourly earnings combined with a 1.2 percent decrease in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Average weekly hours were unchanged.
While an increase in real earning is never, by itself, anything other than good news, the fact that so much of the increase was due to the unsettling price declines of last month should help analysts restrain ther enthusiasm.
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