Thursday, January 29, 2015
Real median weekly earnings rose slightly in Q4, and in 2014
- by New Deal democrat
Every quarter the BLS reports usual weekly earnings, a median measure of wages (the monthly jobs report includes average wages rather than median).
In real, inflation-adjusted terms, usual weekly earnings peaked in 2008 at $342. The yearly low was set one year ago, in 2013, at $333. Last week Q4 2014 was reported, and the 2014 as a whole, usual weekly earning increased slightly to $334.
Here's what happened on a quarterly basis, beginning one year ago:
2013 Q4 $334
2014 Q1 $336
2014 Q2 $330
2014 Q3 $335
2014 Q4 $336
Nominally, the YoY increase was +1.7%. Since YoY inflation was +1.2%, that means real median weekly earnings increased +0.5% in 2014. The second quarter of 2014 was the post-recession quarterly low, although I suspect that was simply a bad sample.
An improvement definitely, but certainly not good enough.