Net Earnings by Place of Residence in Maryland
MDENET • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
329,800,529.00
Year-over-Year Change
17.67%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Net Earnings by Place of Residence in Maryland' metric measures the total earnings of Maryland residents, including wages, salaries, and other income sources, net of taxes and other deductions.
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 economic indicator provides insights into the overall income and purchasing power of Maryland's population, which is crucial for understanding consumer trends, regional economic growth, and tax revenue projections.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and tax records.
Historical Context
Policymakers and businesses use this metric to gauge the financial well-being of Maryland residents and make informed decisions about economic policies and investments.
Key Facts
- Maryland's net earnings reached a record high of $372 billion in 2021.
- Per capita net earnings in Maryland were $54,800 in 2021, 20% above the national average.
- The services sector accounts for over 60% of net earnings in Maryland.
FAQs
Q: What does this economic trend measure?
A: The 'Net Earnings by Place of Residence in Maryland' metric measures the total income, including wages, salaries, and other sources, earned by Maryland residents after taxes and other deductions.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the financial well-being and purchasing power of Maryland's population, which is crucial for understanding consumer spending patterns, regional economic growth, and tax revenue projections.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and tax records.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to gauge the financial health of Maryland residents and make informed decisions about economic policies, investments, and resource allocation.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Net Earnings by Place of Residence in Maryland (MDENET), retrieved from FRED.