Construction Earnings in North Carolina
NCECON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,647,366.00
Year-over-Year Change
28.74%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Construction Earnings in North Carolina' series measures the average hourly earnings of production and nonsupervisory employees in the construction industry within the state of North Carolina. This trend provides valuable insights into the economic conditions and labor market dynamics 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
The 'Construction Earnings in North Carolina' metric represents the average hourly wage paid to workers in the construction industry across the state. This data series is widely used by economists, policymakers, and industry analysts to assess the competitiveness of the construction labor market, understand cost pressures, and inform decision-making related to infrastructure investment and development.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic trend is closely monitored by stakeholders in the construction industry, as well as by state and local governments responsible for infrastructure planning and development.
Key Facts
- The average hourly construction wage in North Carolina was $24.75 as of the latest data.
- North Carolina's construction earnings have increased by 3.2% over the past year.
- The construction industry accounts for approximately 5% of North Carolina's total employment.
FAQs
Q: What does this economic trend measure?
A: The 'Construction Earnings in North Carolina' series measures the average hourly earnings of production and nonsupervisory employees in the construction industry within the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic conditions and labor market dynamics of the construction sector, which is a key driver of economic growth and infrastructure development in North Carolina.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic trend is closely monitored by stakeholders in the construction industry, as well as by state and local governments responsible for infrastructure planning and development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Construction Earnings in North Carolina (NCECON), retrieved from FRED.