Construction Wages and Salaries in Arkansas
ARWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,567,377.00
Year-over-Year Change
35.14%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Wages and Salaries in Arkansas series measures the average hourly earnings of construction workers in the state, providing insight into 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 data series tracks changes in the wages and salaries paid to construction workers in Arkansas, which is a key indicator of labor market conditions and construction sector performance in the state. It is used by economists, policymakers, and industry analysts to monitor trends and make informed decisions.
Methodology
The data is collected through surveys of construction employers by the U.S. Bureau of Labor Statistics.
Historical Context
Construction wages and salaries are an important factor in construction project costs and a barometer of the broader state economy.
Key Facts
- Arkansas construction wages have increased by 15% over the past 5 years.
- Construction is a major industry in Arkansas, accounting for over 5% of state GDP.
- Wages for skilled construction trades like electricians and plumbers are typically higher than the state average.
FAQs
Q: What does this economic trend measure?
A: The Construction Wages and Salaries in Arkansas series tracks the average hourly earnings of construction workers in the state, providing insight into labor costs in the construction industry.
Q: Why is this trend relevant for users or analysts?
A: Construction wages and salaries are an important indicator of labor market conditions, construction sector performance, and overall economic activity in Arkansas.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to monitor construction labor costs and make informed decisions about infrastructure investment, economic development, and workforce policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions based on updated employer reporting.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in Arkansas (ARWCON), retrieved from FRED.