Construction Wages and Salaries in North Dakota
NDWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,434,834.00
Year-over-Year Change
37.50%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Wages and Salaries in North Dakota index measures changes in the average hourly earnings of construction workers in the state. This metric is a key indicator of labor costs and economic activity in the 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
The Construction Wages and Salaries in North Dakota index tracks the average hourly earnings of workers in the construction sector, providing insights into labor market dynamics and cost pressures within the industry. It is a useful economic indicator for policymakers, businesses, and analysts monitoring North Dakota's construction activity and employment conditions.
Methodology
The data is collected through surveys of construction establishments in North Dakota by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in this index are closely watched by economists and industry stakeholders to assess the strength of North Dakota's construction sector and broader economic conditions.
Key Facts
- North Dakota is a major center for construction activity in the U.S.
- Construction wages account for a significant portion of total labor costs in the industry.
- The index has shown steady growth in recent years, reflecting a strong construction market.
FAQs
Q: What does this economic trend measure?
A: The Construction Wages and Salaries in North Dakota index measures changes in the average hourly earnings of construction workers in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market dynamics and cost pressures within North Dakota's construction industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction establishments in North Dakota by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in this index are closely watched by economists and industry stakeholders to assess the strength of North Dakota's construction sector and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
Related Trends
Personal Consumption Expenditures: Goods for North Dakota
NDPCEG
All Employees: Education and Health Services: Ambulatory Health Care Services in North Dakota
SMU38000006562100001SA
Commercial Carbon Dioxide Emissions, LPG (Fuel Use) for North Dakota
EMISSCO2VHLCCBNDA
State Government Tax Collections, Alcoholic Beverages Licenses in North Dakota
NDALCLICTAX
Per Capita Personal Consumption Expenditures: Services: Other Services for North Dakota
NDPCEPCOSRV
Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in North Dakota
SMU38000004000000002A
Citation
U.S. Federal Reserve, Construction Wages and Salaries in North Dakota (NDWCON), retrieved from FRED.