Average Hourly Earnings of All Employees: Construction in Florida
SMU12000002000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.51
Year-over-Year Change
7.24%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees: Construction in Florida measures the average hourly wage for construction workers in the state. This metric is a key indicator of labor market conditions and trends in the 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 represents the average hourly earnings of all employees in the construction industry in Florida. It is a valuable indicator for economists and policymakers to assess the financial health and competitiveness of the construction sector within the state.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of establishments.
Historical Context
The construction industry earnings trend helps inform economic and policy decisions related to employment, wages, and the overall state of the Florida economy.
Key Facts
- Florida's construction industry employs over 500,000 workers.
- Average hourly earnings in Florida construction are higher than the national average.
- The construction sector is a major contributor to Florida's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for employees in the construction industry in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: The construction industry earnings trend is a key indicator of labor market conditions and competitiveness within the Florida economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of establishments.
Q: How is this trend used in economic policy?
A: This trend helps inform economic and policy decisions related to employment, wages, and the overall state of the Florida construction sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Construction in Florida (SMU12000002000000003), retrieved from FRED.