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The Real Rate Index45.30.00Palanor: Inflation Pulse50.7+0.09Palanor: Geopolitical Stress60.0-2.16Palanor: Liquidity57.9-0.79Palanor: Capital Tightness47.5+0.91Palanor: Industrial Pulse70.10.00Palanor: AI Margin Compression53.4+0.29Palanor: Consumer Confidence48.6+0.50Palanor: US Dollar Strength46.50.00Palanor: Labor Heat63.2-0.01Palanor: Recession Vocabulary28.1+0.54Palanor: Uncertainty Index53.4+1.24Palanor: US Jobs Health40.30.00Palanor: Energy Transition37.0-0.52Palanor: Reshoring Sentiment22.8+0.54Palanor: AI Substitution28.4-0.24The Social Fabric Index45.70.00Palanor: Geopolitical Anxiety19.4-0.45Palanor: Quit Pressure37.6+0.42The Mania Index88.00.00The Palanor Index57.1-0.51Cost Disease Spread33.20.00Palanor: US vs China49.5-0.17Rise of Socialism Index40.8-0.26The Bubble Memory79.90.00Palanor: Steward Confidence50.8+0.13The Long Watch90.30.00The Reshoring Index55.2+0.00The Capital Return Index81.0-0.75The Discourse Index72.4+1.83The Hesitation Index30.8-6.58Palanor AI Inference Cost Index71.2-0.03The AI Capex Race Index78.4+1.36The Boardroom Index82.5-0.00The Layoff Cycle Index32.8-2.51Capital Deployment Posture Index62.3+1.26The Consumer Health Index41.7-2.96Labor Hours Composite44.40.00The Dollar Erosion Index66.6+0.14Palanor: Risk Appetite36.2+0.83
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labor

U.S. Average Hourly Earnings, Construction

Latest

41.69$ per hour

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Methodology

## What this measures

Average hourly pay of everyone on payroll in construction.

## Why it matters

A hands-on industry that AI can't do directly. Economic models of AI predict pay here rises as knowledge work gets cheaper and building demand grows, which makes it the comparison line for knowledge-work wages.

## How to read it

Read the 12-month change against information (fred_ahe_information) and professional and business services (fred_ahe_professional_business).

## What it does not say

It moves with housing and interest rates as much as with AI, and it's an average across very different trades.

## Source

Bureau of Labor Statistics, Current Employment Statistics, series CES2000000003 ("Average Hourly Earnings of All Employees, Construction"). Palanor pulls it from the FRED API (Federal Reserve Bank of St. Louis) nightly. Bureau of Labor Statistics data are in the public domain.

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