Average Weekly Earnings of All Employees: Construction in Alabama
SMU01000002000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,353.65
Year-over-Year Change
-0.32%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average weekly earnings of all employees in the construction industry in Alabama. It provides important insights into the state's construction labor market and can inform economic policy decisions.
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 Average Weekly Earnings of All Employees: Construction in Alabama is a key indicator of economic activity and labor market conditions in the state's construction sector. It reflects the typical weekly compensation for workers in this industry, which is a significant contributor to Alabama's overall economic output.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and businesses to assess the health and competitiveness of Alabama's construction labor market.
Key Facts
- Alabama's construction industry employs over 100,000 workers.
- Average weekly earnings in the state's construction sector are higher than the overall private-sector average.
- Construction is a major contributor to Alabama's GDP, accounting for over 4% of the state's economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the construction industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the labor market conditions and economic performance of Alabama's construction sector, which is a crucial component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and businesses closely monitor this trend to assess the health and competitiveness of Alabama's construction labor market, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months, so it may not reflect the most recent changes in the construction labor market.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Construction in Alabama (SMU01000002000000011), retrieved from FRED.