Construction Wages and Salaries in South Dakota
SDWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,192,601.00
Year-over-Year Change
44.57%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Wages and Salaries in South Dakota trend measures changes in the average hourly and weekly earnings for workers in the construction industry within the state.
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 metric provides insight into the economic conditions and labor market dynamics of the construction sector in South Dakota. It is a key indicator used by economists, policymakers, and industry analysts to understand employment costs and inflationary pressures.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This information helps inform infrastructure investment decisions and monitor the competitiveness of the state's construction labor market.
Key Facts
- South Dakota construction wages averaged $29.15 per hour in 2022.
- Weekly earnings in the state's construction industry rose 4.2% in the past year.
- Construction is a major driver of economic activity in South Dakota.
FAQs
Q: What does this economic trend measure?
A: The Construction Wages and Salaries in South Dakota trend measures the average hourly and weekly earnings for workers in the state's construction industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and employment conditions in a key sector of South Dakota's economy, helping to inform policy decisions and business strategies.
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: This information helps policymakers and analysts assess infrastructure investment needs and monitor the competitiveness of South Dakota's construction labor market.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month lag and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in South Dakota (SDWCON), retrieved from FRED.