Average Hourly Earnings of All Employees: Construction in North Carolina
SMU37000002000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.43
Year-over-Year Change
1.17%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Construction in North Carolina' trend measures the average hourly wage for construction workers in the state of North Carolina. This metric is a key indicator of labor costs and economic activity 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 for all employees in the construction industry in North Carolina. It is a useful gauge of compensation levels and labor market conditions, which can inform business and policy decisions related to the construction sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to assess the health of the construction industry and broader state economy.
Key Facts
- North Carolina is a major construction hub in the Southeast U.S.
- Construction wages have risen by over 20% in the state since 2010.
- This metric can signal changes in labor costs and project profitability.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for construction workers employed in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and compensation levels in the construction industry, which is a key driver of economic activity in North Carolina.
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 and analysts monitor this trend to assess the health of the construction sector and broader state economy, which can inform decisions around economic development, workforce training, and infrastructure investment.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a 1-2 month lag in reporting.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Construction in North Carolina (SMU37000002000000003), retrieved from FRED.