Average Weekly Earnings of Production Employees: Construction: Specialty Trade Contractors in Minnesota
SMU27000002023800030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,748.27
Year-over-Year Change
8.99%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of production employees in the construction specialty trade contractors industry in Minnesota. It provides insights into wage trends and labor market conditions in this important 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 Average Weekly Earnings of Production Employees: Construction: Specialty Trade Contractors in Minnesota series tracks the average weekly pay for workers in the specialty trade contractor segment of the construction industry within the state. This data point is a key indicator of economic activity and labor market strength in Minnesota's construction sector.
Methodology
The data is collected through establishment surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, analysts, and industry participants to assess the health of Minnesota's construction labor market and broader economic conditions.
Key Facts
- Minnesota's construction specialty trade contractors employ over 70,000 workers.
- Wages in this industry have increased by 3.2% over the past year.
- Construction is a key driver of economic activity in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the construction specialty trade contractors industry in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and labor market conditions in Minnesota's important construction sector, which is closely watched by policymakers and industry participants.
Q: How is this data collected or calculated?
A: The data is collected through establishment surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, analysts, and industry participants to assess the health of Minnesota's construction labor market and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Construction: Specialty Trade Contractors in Minnesota (SMU27000002023800030), retrieved from FRED.