Average Hourly Earnings of All Employees: Construction in Connecticut
SMU09000002000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.72
Year-over-Year Change
4.54%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Construction in Connecticut is a key economic indicator that measures the average hourly wage for construction workers in the state. It provides insights into labor costs and productivity 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 series represents the average hourly wage paid to all employees in the construction industry in Connecticut. It is a useful metric for analyzing employment trends, cost pressures, and the overall health of the state's construction sector.
Methodology
The data is collected through a monthly survey of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts monitor this trend to understand inflationary pressures and guide economic and workforce development decisions.
Key Facts
- Connecticut's construction industry employs over 60,000 workers.
- Average hourly earnings in Connecticut's construction sector are higher than the national average.
- Wages have risen steadily in recent years, reflecting tight labor market conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to all employees in the construction industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and productivity in the construction sector, which is a key driver of economic activity in Connecticut.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey 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 trend to understand inflationary pressures and guide economic and workforce development decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a short lag, providing timely information on construction industry wages in Connecticut.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Construction in Connecticut (SMU09000002000000003), retrieved from FRED.