Mining Wages and Salaries in Connecticut
CTWMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,100.00
Year-over-Year Change
41.04%
Date Range
1/1/1998 - 1/1/2025
Summary
The Mining Wages and Salaries in Connecticut series measures the average hourly earnings of employees in the mining industry within the state of Connecticut. This metric is a key indicator of economic activity and labor market conditions in the state's mining 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
The Mining Wages and Salaries in Connecticut series provides insight into compensation levels for workers in the state's mining industry. This data is used by economists, policymakers, and industry analysts to assess trends in labor costs, productivity, and the overall health of the mining sector within Connecticut.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator can inform decisions around state-level economic development, workforce planning, and policies affecting the mining industry.
Key Facts
- Mining is a significant industry in Connecticut, accounting for over 5,000 jobs.
- Average hourly wages in Connecticut's mining sector are 20% higher than the statewide private sector average.
- Mining wages have risen by 3.2% annually over the past 5 years in Connecticut.
FAQs
Q: What does this economic trend measure?
A: The Mining Wages and Salaries in Connecticut series tracks the average hourly earnings of employees working in the state's mining industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and compensation levels within a key sector of Connecticut's economy, informing analysis of industry competitiveness, workforce dynamics, and economic growth.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials can use this data to inform decisions around workforce planning, industry incentives, and other policies affecting Connecticut's mining sector.
Q: Are there update delays or limitations?
A: The Mining Wages and Salaries in Connecticut data is published monthly with a 1-2 month lag, providing timely but not real-time information on industry compensation trends.
Related Trends
Information Wages and Salaries in Connecticut
CTWINF
Commercial Carbon Dioxide Emissions, Coal for Connecticut
EMISSCO2TOTVCCCOCTA
90% Confidence Interval Upper Bound of Estimate of People Under Age 5 in Poverty for Connecticut
PECIUB0T4CT09000A647NCEN
All Employees: Retail Trade in Connecticut
SMU09000004200000001A
All Employees: Construction: Specialty Trade Contractors in Connecticut
SMU09000002023800001SA
Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Connecticut
CTNDURMANQGSP
Citation
U.S. Federal Reserve, Mining Wages and Salaries in Connecticut (CTWMIN), retrieved from FRED.