Construction Wages and Salaries in Hawaii
HIWCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,832,785.00
Year-over-Year Change
27.78%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Wages and Salaries in Hawaii trend measures the average hourly earnings of workers in the construction industry in the state of Hawaii. This data provides insights into labor costs and economic conditions in the local 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 rate for production and nonsupervisory employees in the construction industry in Hawaii. It is a key indicator of labor market trends and can inform decisions around construction projects, investment, and economic policy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts monitor this metric to assess the strength of the local construction market and broader economic conditions in Hawaii.
Key Facts
- Hawaii construction wages averaged $31.72 per hour in 2022.
- Wages in this sector have risen by 15% over the past 5 years.
- The construction industry accounts for over 6% of Hawaii's total employment.
FAQs
Q: What does this economic trend measure?
A: The Construction Wages and Salaries in Hawaii trend tracks the average hourly earnings of workers in the construction industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor costs and economic conditions in Hawaii's 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 surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this metric to assess the strength of the local construction market and broader economic conditions in Hawaii.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Construction Wages and Salaries in Hawaii (HIWCON), retrieved from FRED.