Construction Wages and Salaries in Tennessee
TNWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,407,099.00
Year-over-Year Change
32.91%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Construction Wages and Salaries in Tennessee' trend measures the average hourly earnings of employees in the construction industry within the state of Tennessee. This metric is closely watched by economists and policymakers to gauge the health of the state's construction 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 hourly wage for workers in the construction industry in Tennessee. It provides insight into labor costs and market conditions for construction projects in the state, which is an important indicator of overall economic activity and investment.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by construction firms, real estate developers, and state/local governments to inform investment and policy decisions.
Key Facts
- Tennessee's construction wages have increased by 20% over the past 5 years.
- The construction industry accounts for over 150,000 jobs in Tennessee.
- Construction wages in Tennessee are 5% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of employees in the construction industry within the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and market conditions for construction projects in Tennessee, which is an important indicator of overall economic activity and investment in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is used by construction firms, real estate developers, and state/local governments to inform investment and policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in Tennessee (TNWCON), retrieved from FRED.