Average Hourly Earnings of All Employees: Construction in Arkansas
SMU05000002000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.92
Year-over-Year Change
55.37%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Construction in Arkansas trend measures the average hourly wages paid to construction workers in the state. This metric is a key indicator of the strength and competitiveness of the Arkansas construction labor market.
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 hourly earnings of all employees in the construction industry in Arkansas. It provides insights into the compensation levels and cost of labor for construction projects in the state, which is valuable information for businesses, policymakers, and economic analysts.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to gauge the health of the construction sector and assess the overall economic conditions in Arkansas.
Key Facts
- The average hourly earnings in Arkansas construction were $25.64 as of the latest data.
- Construction wages in Arkansas have increased by 3.2% over the past year.
- Arkansas construction wages are 7% lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to construction workers in the state of Arkansas. It provides insights into the compensation levels in the construction industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for businesses, policymakers, and economic analysts as it helps them understand the cost of labor and competitiveness of the construction industry in Arkansas.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used to gauge the health of the construction sector and assess the overall economic conditions in Arkansas, which can inform policy decisions related to the state's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release delay of 1-2 months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Construction in Arkansas (SMU05000002000000003A), retrieved from FRED.