Construction Earnings in Colorado
COECON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,296,509.00
Year-over-Year Change
11.80%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Earnings in Colorado series measures average hourly earnings for production and nonsupervisory employees in the construction industry within the state of Colorado. This metric provides insight into the economic health and labor market conditions 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 tracks changes in nominal wages for construction workers in Colorado, offering a gauge of labor cost trends and supply-side pressures. It is used by economists, policymakers, and industry analysts to monitor the competitiveness and affordability of the state's construction labor force.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Construction earnings trends inform assessments of housing affordability, infrastructure investment, and the broader economic outlook.
Key Facts
- Colorado construction earnings averaged $32.15 per hour in 2022.
- Earnings have risen 15% in the past 5 years.
- The construction industry employs over 175,000 workers in Colorado.
FAQs
Q: What does this economic trend measure?
A: The Construction Earnings in Colorado series tracks average hourly wages for production and nonsupervisory employees in the state's construction industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and cost pressures within the important construction sector, informing analysis of housing affordability, infrastructure investment, and the broader economic outlook.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Construction earnings data is used by economists, policymakers, and industry analysts to monitor the competitiveness and affordability of Colorado's construction labor force, which has implications for housing, infrastructure, and overall economic conditions.
Q: Are there update delays or limitations?
A: The Construction Earnings in Colorado data is published monthly with a typical 1-2 month lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Construction Earnings in Colorado (COECON), retrieved from FRED.