Construction Wages and Salaries in Alabama
ALWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,239,354.00
Year-over-Year Change
26.86%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Wages and Salaries in Alabama index measures changes in wages and salaries paid to construction workers in the state. It is an important indicator of labor costs and economic activity in the construction industry.
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 index tracks the average hourly and weekly earnings of production and nonsupervisory employees in the construction sector in Alabama. It provides insight into compensation trends, which are a key driver of construction costs and project viability.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Construction wages and salaries are closely monitored by policymakers, developers, and investors to assess the health of the construction industry and broader regional economy.
Key Facts
- Alabama construction wages have increased by 20% over the past 5 years.
- Construction is one of the largest private employment sectors in Alabama.
- Wages account for over 25% of total construction project costs on average.
FAQs
Q: What does this economic trend measure?
A: The Construction Wages and Salaries in Alabama index tracks changes in the average hourly and weekly earnings of production and nonsupervisory employees in the state's construction sector.
Q: Why is this trend relevant for users or analysts?
A: Construction wages are a key driver of overall construction costs, making this index important for developers, investors, and policymakers assessing the health of the construction industry and broader regional economy.
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: Construction wages and salaries are closely monitored by policymakers to understand labor market dynamics and their impact on the construction industry and broader regional economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately 1 month.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in Alabama (ALWCON), retrieved from FRED.