Average Weekly Earnings of Production Employees: Construction in Utah
SMU49000002000000030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,406.48
Year-over-Year Change
5.05%
Date Range
1/1/2002 - 6/1/2025
Summary
The Average Weekly Earnings of Production Employees: Construction in Utah measures the average weekly earnings of workers in the construction industry within the state of Utah. This metric provides insight into wage trends and labor costs for a 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
This series tracks the average weekly earnings of production employees, which includes both wage and salary workers, in the construction industry in Utah. It is a useful indicator of compensation levels and labor market conditions for this important economic sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to monitor the strength of the construction industry and its impact on the broader Utah economy.
Key Facts
- Utah's construction industry accounts for over 7% of the state's GDP.
- Construction wages in Utah are typically higher than the national average.
- The COVID-19 pandemic had a significant impact on construction earnings in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average weekly earnings of production employees in the construction industry within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: The average weekly earnings in construction provide insight into labor costs and compensation levels for a crucial sector of the Utah economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers 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 monitor the strength of the construction industry and its impact on the broader Utah economy.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis, with a short delay before release.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Construction in Utah (SMU49000002000000030), retrieved from FRED.