Hours Worked for Construction: Highway, Street, and Bridge Construction (NAICS 23731) in the United States
IPUDN23731L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
825.18
Year-over-Year Change
27.66%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the number of hours worked in the highway, street, and bridge construction industry in the United States. It provides insights into the level of activity and labor input in this critical infrastructure 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 Hours Worked for Construction: Highway, Street, and Bridge Construction (NAICS 23731) in the United States metric tracks the total number of hours worked by employees in this construction subsector. It serves as an indicator of production capacity, labor utilization, and industry performance within the broader construction industry.
Methodology
The data is collected through surveys of businesses and establishments in the highway, street, and bridge construction industry.
Historical Context
This metric is closely watched by policymakers, economists, and construction firms to assess the health and outlook of the infrastructure construction sector.
Key Facts
- The construction industry accounts for over 4% of U.S. GDP.
- Highway and bridge construction is a major driver of infrastructure investment.
- Labor productivity in construction has lagged other sectors in recent decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the highway, street, and bridge construction industry (NAICS 23731) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of activity and labor utilization in the critical infrastructure construction sector, which is closely watched by policymakers, economists, and industry participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in the highway, street, and bridge construction industry.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and construction firms to assess the health and outlook of the infrastructure construction sector, which is a key driver of economic growth and productivity.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the U.S. Federal Reserve, and may have lags or limitations in capturing the most recent industry activity.
Related Trends
Employment for Construction: Construction of Buildings (NAICS 236) in the United States
IPUDN236W010000000
Hours Worked for Construction: Building Finishing Contractors (NAICS 2383) in the United States
IPUDN2383L200000000
Hours Worked for Construction: Heavy and Civil Engineering Construction (NAICS 237) in the United States
IPUDN237L010000000
Employment for Construction: Highway, Street, and Bridge Construction (NAICS 2373) in the United States
IPUDN2373W200000000
Employment for Construction: Land Subdivision (NAICS 237210) in the United States
IPUDN237210W200000000
Hours Worked for Construction: Specialty Trade Contractors (NAICS 238) in the United States
IPUDN238L200000000
Citation
U.S. Federal Reserve, Hours Worked for Construction: Highway, Street, and Bridge Construction (NAICS 23731) in the United States (IPUDN23731L200000000), retrieved from FRED.