Average Hourly Earnings of Production Employees: Construction in Missouri
SMU29000002000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.15
Year-over-Year Change
-4.39%
Date Range
1/1/2001 - 7/1/2025
Summary
The Average Hourly Earnings of Production Employees: Construction in Missouri tracks the average hourly wage paid to construction workers in the state. This metric is an important indicator of labor costs and inflationary pressures 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 measures the average hourly wage paid to production employees in the construction industry within the state of Missouri. It is a key statistic used by economists and policymakers to monitor labor market trends and assess the overall health of the construction sector.
Methodology
The data is collected through surveys of construction companies and reported by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in construction wages can provide insights into the strength of the housing market and broader economic conditions.
Key Facts
- Missouri construction wages averaged $28.10 per hour in 2022.
- Wages in the Missouri construction industry have risen by 15% over the past 5 years.
- Construction is a major employer in Missouri, accounting for over 150,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to production employees in the construction industry within the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: Trends in construction wages are an important indicator of labor costs and inflationary pressures in the construction sector, which can provide insights into the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction companies and reported by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to monitor labor market conditions and assess the overall health of the construction industry, which can inform decisions around economic and housing policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Construction in Missouri (SMU29000002000000008), retrieved from FRED.