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August 17, 2004
Real Earnings Move Upward
Real average weekly earnings increased by 0.7 percent from June to July after seasonal adjustment, according to a report 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, a 0.3 percent rise in average weekly hours, and a 0.1 percent decrease in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

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Average weekly earnings rose by 2.3 percent, seasonally adjusted, from July 2003 to July 2004. After deflation by the CPI-W, average weekly earnings declined by 0.7 percent. Before adjustment for seasonal change and inflation, average weekly earnings were $526.94 in July 2004, compared with $515.27 a year earlier.

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