Construction Earnings in North Dakota
NDECON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,392,745.00
Year-over-Year Change
31.77%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Construction Earnings in North Dakota' trend measures the average weekly earnings for construction workers in the state of North Dakota. This data is crucial for analyzing the economic conditions and labor market dynamics in the state's construction industry.
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 weekly earnings for employees in the construction sector within North Dakota. It is an important economic indicator that provides insight into the compensation levels, labor costs, and overall activity within the state's construction industry.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts use this trend to monitor the competitiveness of North Dakota's construction labor market and inform decisions around economic development, workforce planning, and infrastructure investment.
Key Facts
- North Dakota has experienced rapid construction growth in recent years.
- Construction is a key industry in the state's economy.
- Earnings in this sector can impact project costs and investment decisions.
FAQs
Q: What does this economic trend measure?
A: The 'Construction Earnings in North Dakota' trend measures the average weekly earnings for employees in the construction sector within the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the labor costs and economic conditions within North Dakota's construction industry, which is a crucial sector for the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to monitor the competitiveness of North Dakota's construction labor market and inform decisions around economic development, workforce planning, and infrastructure investment.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a typical lag of several months between the reference period and the release date.
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Citation
U.S. Federal Reserve, Construction Earnings in North Dakota (NDECON), retrieved from FRED.