Average Hourly Earnings of Production Employees: Construction in Indiana
SMU18000002000000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.57
Year-over-Year Change
35.14%
Date Range
1/1/2001 - 1/1/2024
Summary
This data series tracks the average hourly earnings of production employees in the construction industry in Indiana. It provides insight into labor costs and economic conditions in this important 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 Hourly Earnings of Production Employees: Construction in Indiana data series measures the typical hourly wage for workers in the construction industry across the state. It is a key indicator of labor market trends and construction activity levels.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of Indiana's construction industry and broader economic conditions.
Key Facts
- Indiana's construction industry accounts for over 150,000 jobs.
- Average hourly earnings in construction are typically higher than the overall state average.
- Construction wages have risen steadily in Indiana over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the typical hourly wage for production employees in Indiana's construction industry.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into labor costs and activity levels in a key sector of the Indiana economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Indiana's construction industry and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month reporting lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Construction in Indiana (SMU18000002000000008A), retrieved from FRED.