Construction Earnings in Connecticut
CTECON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,486,557.00
Year-over-Year Change
11.10%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Construction Earnings in Connecticut' trend measures the average hourly earnings of production and nonsupervisory employees in the construction industry within the state of Connecticut. This metric provides insight into the economic conditions and labor dynamics of the construction sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the average hourly wage paid to workers in the construction industry in Connecticut. It is a key indicator of labor costs and economic activity within the state's construction sector, which is an important driver of overall economic growth.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts use this trend to assess the strength of the construction industry and its impact on the broader state economy.
Key Facts
- Connecticut's construction industry employs over 60,000 workers.
- Average hourly earnings in construction are 25% higher than the state's overall average wage.
- Construction earnings have grown by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The 'Construction Earnings in Connecticut' trend measures the average hourly wages paid to production and nonsupervisory employees in the construction industry within the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the labor costs and economic conditions of Connecticut's construction sector, which is a key driver of the state's overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the strength of the construction industry and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Construction Earnings in Connecticut (CTECON), retrieved from FRED.