Civilian Labor Force for Maryland
CIVLFMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,237,600.00
Year-over-Year Change
2.98%
Date Range
10/1/2003 - 7/1/2024
Summary
The Civilian Labor Force for Maryland measures the total number of people aged 16 and over who are employed or actively seeking work in the state. It is a key economic indicator used to assess the health and size of Maryland's workforce.
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 Civilian Labor Force for Maryland represents the total number of working-age individuals who are either employed or actively seeking employment in the state. This metric provides insight into the overall size and participation of Maryland's workforce, which is crucial for understanding economic activity and trends.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use the Civilian Labor Force for Maryland to gauge the state's economic performance and inform employment-related policies.
Key Facts
- Maryland's civilian labor force is over 3.2 million people.
- The labor force participation rate in Maryland is around 65%.
- Maryland's labor force has grown by over 5% in the past decade.
FAQs
Q: What does this economic trend measure?
A: The Civilian Labor Force for Maryland measures the total number of people aged 16 and over who are employed or actively seeking work in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into the overall size and participation of Maryland's workforce, which is essential for understanding the state's economic activity and trends.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Civilian Labor Force for Maryland to gauge the state's economic performance and inform employment-related policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Civilian Labor Force for Maryland (CIVLFMD), retrieved from FRED.