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>From the US BLS website: Real average hourly earnings fell 0.5 percent from October to November, seasonally adjusted, the Bureau of Labor Statistics reported today. A 0.5 percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) more than offset a 0.1 percent increase in average hourly earnings for production and nonsupervisory workers. Real average weekly earnings rose 0.1 percent over the month. A decline in real average hourly earnings was more than offset by a 0.6 percent increase in the average work week. Since reaching a recent high point in December 2008, real average weekly earnings have fallen by 1.7 percent. http://www.bls.gov/news.release/pdf/realer.pdf >From the Eurostat Website Third quarter 2009 compared with third quarter 2008 Euro area hourly labour costs rose by 3.2% EU27 up by 3.1% Hourly labour costs in the euro area (EA16) rose by 3.2% in the year up to the third quarter of 2009, compared with 4.3% for the previous quarter. In the EU27, the annual rise was 3.1% up to the third quarter of 2009, compared with 4.2% for the previous quarter. The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, wages & salaries per hour worked grew by 3.1% in the year up to the third quarter of 2009, and the non-wage component by 3.6%, compared with 4.2% and 4.6% respectively for the second quarter of 2009. In the EU27, hourly wages & salaries rose by 2.9% and the non-wage component by 3.6%, compared with 4.1% for both components for the previous quarter. The breakdown by economic activity shows that in the euro area hourly labour costs rose by 5.4% in industry, 2.9% in construction and 2.0% in services in the year up to the third quarter of 2009. In the EU27, labour costs per hour grew by 4.9% in industry and by 2.3% in both construction and services. ________________________________________________ Send list submissions to: Marxism@lists.econ.utah.edu Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
