Average Hourly Earnings of All Employees: Construction in Massachusetts
SMU25000002000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.02
Year-over-Year Change
0.33%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees: Construction in Massachusetts trend measures the average hourly wage for construction workers in the state. This metric is an important indicator of 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 data series tracks the average hourly earnings for all employees in the construction industry in Massachusetts. It is used by economists, policymakers, and industry analysts to monitor labor market trends and assess the competitiveness of construction wages within the state.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Tracking construction wages is crucial for understanding overall economic conditions, as the construction sector is a key driver of economic growth and activity.
Key Facts
- Construction is a major industry in Massachusetts, accounting for over 5% of the state's GDP.
- Average hourly construction wages in Massachusetts are consistently higher than the national average.
- Trends in construction wages can signal changes in demand for skilled labor and overall economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the construction industry within the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: Tracking construction wages is important for understanding labor market conditions and economic trends, as the construction sector is a key driver of economic activity.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Construction wage data is used by policymakers, economists, and industry analysts to monitor labor market conditions and assess the competitiveness of construction wages within the state.
Q: Are there update delays or limitations?
A: The data is released monthly with a short delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Construction in Massachusetts (SMU25000002000000003), retrieved from FRED.