Average Weekly Earnings of Production Employees: Construction in Utah
SMU49000002000000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,317.20
Year-over-Year Change
52.38%
Date Range
1/1/2002 - 1/1/2024
Summary
The 'Average Weekly Earnings of Production Employees: Construction in Utah' is a key economic indicator that measures the average weekly earnings of production employees in the construction industry in Utah. This metric provides insight into wage trends and labor costs in this important sector.
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, including overtime pay, of production and non-supervisory employees in the construction industry in Utah. It is a useful indicator of labor costs and broader economic conditions in the state's construction sector.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to assess the health of Utah's construction industry and broader economic activity.
Key Facts
- Utah's construction industry employs over 100,000 workers.
- Construction wages in Utah are typically higher than the national average.
- The construction sector accounts for over 5% of Utah's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings, including overtime pay, of production and non-supervisory employees in the construction industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage trends and labor costs in Utah's important construction sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the health of Utah's construction industry and broader economic activity in the state.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Construction in Utah (SMU49000002000000030A), retrieved from FRED.