Average Weekly Earnings of All Employees: Construction in South Carolina
SMU45000002000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,340.12
Year-over-Year Change
65.23%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the construction industry in South Carolina. It provides insight into wage levels and trends in this key sector of the state's economy.
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 Weekly Earnings of All Employees: Construction in South Carolina is a monthly economic indicator that tracks the average weekly pay for workers in the construction industry across the state. It is used by economists, policymakers, and industry analysts to monitor labor market conditions and wage growth in this important economic sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric helps inform decisions around infrastructure investment, housing policy, and economic development strategies in South Carolina.
Key Facts
- Construction is a major industry in South Carolina, employing over 100,000 workers.
- Wages in the state's construction sector have risen by 25% over the past decade.
- Construction spending accounts for 4% of South Carolina's gross state product.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings of all employees in the construction industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor market conditions and wage growth within a key sector of South Carolina's economy, informing decisions around economic policy and development.
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: This metric helps inform decisions around infrastructure investment, housing policy, and economic development strategies in South Carolina.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month lag between the reference period and publication.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Construction in South Carolina (SMU45000002000000011A), retrieved from FRED.