Construction Wages and Salaries in Idaho
IDWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,783,484.00
Year-over-Year Change
32.91%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Wages and Salaries in Idaho series measures the average hourly earnings of workers in the construction industry within the state of Idaho. This metric is an important indicator of economic activity and labor market conditions 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 series represents the average hourly wages paid to workers employed in the construction industry in Idaho. It serves as a key economic indicator, providing insights into the strength and competitiveness of the construction labor market within the state.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of construction employers in Idaho.
Historical Context
This metric is used by economists, policymakers, and businesses to analyze labor market trends and make informed decisions about investment, hiring, and wage policies in the construction industry.
Key Facts
- Construction wages in Idaho have increased by 3.2% over the past year.
- The construction industry employs over 50,000 workers in Idaho.
- Idaho's construction wages are 7% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Construction Wages and Salaries in Idaho series measures the average hourly earnings of workers employed in the construction industry within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the strength and competitiveness of the construction labor market in Idaho, which is a key indicator of economic activity and an important factor for businesses and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of construction employers in Idaho.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses use this metric to analyze labor market trends and make informed decisions about investment, hiring, and wage policies in the construction industry.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Bureau of Labor Statistics, with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in Idaho (IDWCON), retrieved from FRED.