New numbers from the U.S. Bureau of Labor Statistics showed that real hourly earnings, on average, increased by 1.1 percent in the year 2018. This is the largest year-over-year increase since September 2016 – over two years ago.
The average workweek had little change, meaning that employees aren’t working any more or less than they did 1 year ago. As a result, the average weekly earnings increased about as much as the average hourly earnings did. Real average earnings are already adjusted for inflation, which means Americans are making 1.1 percent more money than they did last year and as a result are able to spend more.
However, those are just the yearly numbers, and say nothing of the monthly changes. Over the month of December 2018, real average hourly earnings went up by 0.6 percent, to $23.05 per hour. The average employee clocked in 33.7 hours, making the average weekly earnings $776.79. Source: www.bls.gov