Average Weekly Earnings of All Employees: Construction in Rhode Island
SMU44000002000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,706.29
Year-over-Year Change
2.58%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Construction in Rhode Island measures the average weekly earnings for construction workers in Rhode Island. This metric provides insight into the economic health and labor market conditions of the construction industry in the state.
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 tracks the average weekly earnings paid to all employees in the construction industry in Rhode Island, including both production and supervisory personnel. It is a key indicator of labor costs and compensation trends within this important sector of the state's economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this data to monitor inflationary pressures, labor market dynamics, and industry-specific economic performance.
Key Facts
- The average weekly earnings for construction workers in Rhode Island were $1,452 as of the latest data.
- Construction is a key industry in Rhode Island, accounting for over 20,000 jobs as of 2022.
- Wages in the Rhode Island construction sector have risen by 4.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings paid to all employees, including both production and supervisory personnel, in the construction industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and compensation trends within the construction industry, which is a critical sector of Rhode Island's economy. It helps policymakers and economists monitor inflationary pressures, labor market dynamics, and industry-specific economic performance.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted 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 inflationary pressures, labor market dynamics, and industry-specific economic performance within the construction sector in Rhode Island.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical update delay of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Construction in Rhode Island (SMU44000002000000011), retrieved from FRED.