Construction Wages and Salaries in Arizona
AZWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,969,462.00
Year-over-Year Change
39.41%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Construction Wages and Salaries in Arizona' trend measures changes in the average hourly earnings of construction workers in the state of Arizona. This data is crucial for understanding labor costs and economic conditions 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 metric tracks the average hourly wages paid to construction workers in Arizona, including both residential and nonresidential projects. The data is used by economists, policymakers, and industry analysts to monitor labor market dynamics and cost pressures in the construction sector.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Construction wage trends help inform decisions around infrastructure investment, housing policy, and economic development strategies.
Key Facts
- Construction is a major industry in Arizona, accounting for over 150,000 jobs.
- Wages in the Arizona construction sector have risen by over 20% in the past decade.
- The construction industry is a key driver of economic growth in many Arizona communities.
FAQs
Q: What does this economic trend measure?
A: The 'Construction Wages and Salaries in Arizona' trend tracks the average hourly earnings of construction workers in the state.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding labor costs and economic conditions in Arizona's construction industry, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Construction wage trends help inform decisions around infrastructure investment, housing policy, and economic development strategies in Arizona.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in Arizona (AZWCON), retrieved from FRED.