The US Bureau of Labor Statistics has reported a modest slowdown in real earnings growth for the month of June 2024. According to the updated data released on July 11, 2024, real earnings in the United States rose by 0.3% in June, a slight dip from the 0.4% increase observed in May 2024.
This month-over-month comparison shows that while US workers' real earnings continue to grow, the pace has decreased. The previous indicator for May's earnings growth, which was compared to April 2024, stood at 0.4%.
Economists are keeping a close eye on these developments, as sustained periods of earnings growth fluctuations can significantly impact consumer spending and overall economic health. The data provides a critical insight into the economic conditions faced by US workers and helps in shaping future fiscal policies.
