Business Applications with Planned Wages: Total for All NAICS in Maryland
BAWBATOTALNSAMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
888.00
Year-over-Year Change
-0.45%
Date Range
7/1/2004 - 7/1/2025
Summary
This economic trend tracks the total number of new business applications in Maryland that include planned wages, providing insights into entrepreneurial activity and the state's economic dynamism.
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 Business Applications with Planned Wages metric measures the volume of new business applications in Maryland that indicate the intention to hire employees and pay wages. This forward-looking indicator signals emerging entrepreneurial and economic trends in the state.
Methodology
The data is collected and calculated by the U.S. Census Bureau based on administrative records of new business applications.
Historical Context
This trend is closely monitored by policymakers, economists, and business analysts to assess the health of Maryland's economy and the state's business formation climate.
Key Facts
- Maryland saw 11,517 new business applications with planned wages in 2022.
- Business applications with wages have grown 20% in Maryland over the past 5 years.
- The business formation rate in Maryland is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total number of new business applications in Maryland that indicate the intention to hire employees and pay wages, providing insights into entrepreneurial activity in the state.
Q: Why is this trend relevant for users or analysts?
A: This forward-looking indicator is closely monitored by policymakers, economists, and business analysts to assess the health of Maryland's economy and the state's business formation climate.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on administrative records of new business applications.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to gauge entrepreneurial activity and assess the business formation climate in Maryland, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to historical figures as the Census Bureau refines its methodology.
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Citation
U.S. Federal Reserve, Business Applications with Planned Wages: Total for All NAICS in Maryland (BAWBATOTALNSAMD), retrieved from FRED.