Adjusted for inflation, the BLS measure of average hourly earnings increased last month at an annualized rate of 3.3%. However, average hours worked continued its downward trend:
As a result, weekly earnings were flat from last month:
Weekly earnings have been flat for the past year and are now 0.4% above their pre-pandemic level from three years ago. Tight labor market, anyone?
So, does this mean that overtime is going down?
ETA: I really wish you'd go back at least to 2019 so we can see what the trend was then.
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Once more .... using Deflators on this time scale is non-sense and not appropriate analytics. Weekly earnings are not the appropriate metric for judging one way or another labour market (it does give an indicator although on such short term such data is ... frankly too noisey to be particularly useful, of productivity as real wage increase - i.e. deflated wages - is a signal on productivity
This is a naive, incorrect application of deflator.
Maybe at some point Drum will finally accept he does not understand deflator application... (although it seems nlikel