This increase in average hourly earnings stems from a 2.5-percent increase in average hourly earnings being offset by a 2.3-percent increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
The increase in real average hourly earnings combined with no change in the average workweek resulted in a 0.2-percent increase in real average weekly earnings over this period.
The United States slipped one spot to eighth in the most recent iteration of the World Bank’s Ease of Doing Business rankings. The Index ranks countries based on how supportive their economies and regulatory frameworks are to starting and operating a local firm. For the United States, the report uses a population-weighted score for Los Angeles and New York City. A decade ago the United States ranked third, behind only perennial top-two finishers Singapore and New Zealand, but in this year’s Index it also ranked behind Denmark, Hong Kong, South Korea, Norway, and the United Kingdom
Median weekly earnings of the nation's 114.9 million full-time wage and salary workers were $859 in the third quarter of 2017 (not seasonally adjusted). This was 3.9 percent higher than a year earlier, compared with a gain of 2.0 percent in the CPI-U.
Economic activity in the Twelfth District continued to expand at a moderate pace during the reporting period of mid-August through September. Overall price inflation was flat and remained low, while upward wage pressures strengthened somewhat, and labor market conditions tightened further. Sales of retail goods picked up, and growth in consumer and business services remained strong. Conditions in the manufacturing sector improved, while activity in the agriculture sector was flat. Contacts reported continued strong activity in residential real estate markets, and conditions in the commercial real estate sector remained solid. Lending activity grew at a moderate pace.
If the next recession hit the U.S. this year, more than a quarter of states would be financially unprepared to weather even a moderate downturn, according to a new report.
Fifteen states would struggle in the case of a recession-related tax revenue slump and spike in demand for services, such as Medicaid. They are more than 5 percentage points below the share of funds left in their budgets they would need to tap, according to a new Moody’s Analytics analysis. Another 19 states narrowly fall short.