Average Weekly Earnings of All Employees: Construction in Virginia
SMU51000002000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,467.26
Year-over-Year Change
7.34%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Construction in Virginia metric tracks the average weekly earnings of workers in the construction industry within the state of Virginia. This data provides insight into economic conditions and labor trends in 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 data series measures the average weekly earnings of all employees, including both production and supervisory personnel, in the construction industry in Virginia. It is a useful indicator of economic activity and labor market conditions in the construction sector of the Virginia economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by economists, policymakers, and construction industry analysts to gauge the health and outlook of the construction sector.
Key Facts
- Virginia's construction industry employs over 200,000 workers.
- Average weekly earnings in Virginia construction are higher than the national average.
- Construction wages have grown steadily in recent years, reflecting strong demand.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average weekly earnings of all employees, both production and supervisory personnel, in the construction industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into economic conditions and labor market trends in the construction sector, which is a key driver of economic activity in Virginia.
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: Economists, policymakers, and construction industry analysts closely monitor this metric to gauge the health and outlook of the construction sector, which has important implications for the broader Virginia economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical release lag of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Construction in Virginia (SMU51000002000000011), retrieved from FRED.