Construction Earnings in Rhode Island
RIECON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,093,147.00
Year-over-Year Change
19.60%
Date Range
1/1/1998 - 1/1/2025
Summary
The Construction Earnings in Rhode Island metric tracks the average weekly earnings of workers in the construction industry within the state. This data point is a key indicator of economic activity and labor market conditions 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 Rhode Island series represents the average weekly pay for employees in the state's construction industry. It is used by economists and policymakers to monitor trends in construction sector compensation and gauge broader economic conditions.
Methodology
The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in construction earnings are closely watched by real estate analysts, builders, and government officials to assess the health of the building industry and broader economy.
Key Facts
- Construction is a major industry in Rhode Island, accounting for over 20,000 jobs.
- Average weekly earnings in Rhode Island construction are over $1,300.
- Construction earnings have grown by 15% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Construction Earnings in Rhode Island metric tracks the average weekly pay for workers in the state's construction industry.
Q: Why is this trend relevant for users or analysts?
A: Trends in construction earnings are closely watched as an indicator of economic activity and labor market conditions in the building sector.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages (QCEW) program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use construction earnings data to assess the health of the building industry and broader economy.
Q: Are there update delays or limitations?
A: The construction earnings data is published quarterly with a 1-2 month lag by the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Construction Earnings in Rhode Island (RIECON), retrieved from FRED.