Construction Wages and Salaries in Pennsylvania
PAWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,528,633.00
Year-over-Year Change
11.92%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Construction Wages and Salaries in Pennsylvania' metric measures the average weekly earnings of construction workers in the state. This data provides insight into labor costs and economic activity in the Pennsylvania 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 tracks the average weekly wages paid to construction workers in Pennsylvania. It serves as an important indicator of labor market conditions and construction sector performance within the state's economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Construction wages are closely monitored by policymakers, developers, and construction firms to assess regional economic trends and guide investment decisions.
Key Facts
- Pennsylvania construction wages averaged $1,234 per week in 2022.
- Wages in the Pennsylvania construction sector have risen 3.2% annually over the past 5 years.
- Construction is one of the largest employing industries in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: The 'Construction Wages and Salaries in Pennsylvania' metric tracks the average weekly earnings of construction workers in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into labor costs and economic activity within Pennsylvania's construction industry, which is crucial for policymakers, developers, and construction firms.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Construction wages are closely monitored by policymakers to assess regional economic trends and guide investment decisions in the state.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in Pennsylvania (PAWCON), retrieved from FRED.