Average Weekly Earnings of Production Employees: Construction in Connecticut
SMU09000002000000030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,580.12
Year-over-Year Change
1.13%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of production employees in the construction industry in Connecticut. It provides insights into wage trends and labor costs within the state's construction sector.
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 Production Employees: Construction in Connecticut is a key indicator for monitoring the economic conditions and labor market dynamics in the state's construction industry. It represents the average weekly pay for hourly and salaried production workers engaged in construction activities.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, industry analysts, and businesses to understand inflationary pressures and labor market trends in the construction sector.
Key Facts
- The series began in 1990.
- Construction wages in Connecticut are above the national average.
- The data is released monthly with a one-month lag.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees, such as construction workers, in the construction industry within the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage and labor cost trends in the construction sector, which is crucial for understanding inflationary pressures, labor market dynamics, and the overall health of the state's construction industry.
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: Policymakers, industry analysts, and businesses use this metric to monitor labor market conditions and inflationary pressures in the construction sector, which informs economic policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is released monthly with a one-month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Construction in Connecticut (SMU09000002000000030), retrieved from FRED.