Average Weekly Earnings of All Employees: Construction in Minnesota
SMU27000002000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,694.88
Year-over-Year Change
49.32%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Construction in Minnesota measures the average weekly earnings of workers in the construction industry in Minnesota. This metric provides insight into the economic conditions and labor market trends within the state's 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 data series tracks the average weekly earnings of all employees, including both full-time and part-time workers, in the construction industry in the state of Minnesota. It is a key indicator of income and labor market conditions in this important economic sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health and competitiveness of Minnesota's construction industry.
Key Facts
- Construction is a major industry in Minnesota, accounting for over 100,000 jobs.
- Average weekly earnings in Minnesota's construction sector are above the national average.
- Construction wages have risen steadily in Minnesota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings of all employees, including both full-time and part-time workers, in the construction industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic conditions and labor market trends within Minnesota's construction sector, which is a key industry in the state.
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 analysts use this metric to assess the health and competitiveness of Minnesota's construction industry, which is important for the state's overall economic development.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis with a typical 1-month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Construction in Minnesota (SMU27000002000000011A), retrieved from FRED.