Americans' average hourly wages may have decreased in December, but JPMorgan's chief U.S. economist, Michael Feroli, told CNBC on Friday that he thinks the figures look a "bit flukey" and are probably not the beginning of a trend.
"It's really at odds with a lot of other things we're seeing as it relates to wage growth" like recent household surveys of income expectations or business surveys of income growth, he said in an interview with "Street Signs."
"I don't want to fight the data but there are too many suspicious things there for me to think that that's the beginning of a trend."
Average hourly earnings declined 5 cents in December, dropping from $24.62 an hour to $24.57, according to the Bureau of Labor Statistics.
However, the U.S. economy created 252,000 jobs in December and the unemployment rate fell to 5.6 percent.
Feroli said the unemployment rate is falling faster than the Federal Reserve expected and that will keep the central bank on track for a midyear rate hike.
He also noted that real earnings could actually be rising.
"Even if wages aren't growing really fast, prices are going down so real spending power is going up," Feroli said.