Construction Earnings in Maryland
MDECON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,875,579.00
Year-over-Year Change
11.22%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Construction Earnings in Maryland' trend measures average weekly earnings in the construction industry for the state of Maryland. This data point is important for economists and policymakers to understand labor market conditions and cost pressures in the 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
The 'Construction Earnings in Maryland' series tracks the average weekly earnings of production and nonsupervisory employees in the construction industry within the state of Maryland. This metric provides insight into wage levels and compensation trends for construction workers, which is a key indicator of activity and costs in the construction sector.
Methodology
The data is collected through surveys of construction employers by the U.S. Bureau of Labor Statistics.
Historical Context
This construction earnings trend is used by economists, policymakers, and industry analysts to monitor labor market dynamics and inflationary pressures in the Maryland construction sector.
Key Facts
- Maryland construction earnings averaged $1,275 per week in 2022.
- Construction wages in Maryland have risen 8.2% over the past year.
- The construction industry accounts for over 170,000 jobs in Maryland.
FAQs
Q: What does this economic trend measure?
A: The 'Construction Earnings in Maryland' trend measures the average weekly earnings of production and nonsupervisory employees in the construction industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor market conditions and cost pressures in the Maryland construction sector, which is a key driver of economic activity and infrastructure investment in the state.
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: Economists, policymakers, and industry analysts use this construction earnings trend to monitor labor market dynamics and inflationary pressures in the Maryland construction sector, which informs policy decisions around infrastructure investment, housing, and economic development.
Q: Are there update delays or limitations?
A: The construction earnings data for Maryland is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Construction Earnings in Maryland (MDECON), retrieved from FRED.