Proprietors' Nonfarm Income in Maryland
MDONON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,826.40
Year-over-Year Change
17.07%
Date Range
1/1/1948 - 1/1/2025
Summary
Proprietors' Nonfarm Income in Maryland measures the income earned by self-employed individuals in non-agricultural businesses within the state. This metric provides insight into the entrepreneurial activity and economic vitality of Maryland's private 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
Proprietors' Nonfarm Income represents the net earnings of individuals who are self-employed in non-farm businesses. It is an important indicator of the health and dynamism of a state's economy, as it reflects the income generated by independent business owners and entrepreneurs.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis from tax filings and other sources.
Historical Context
Policymakers and analysts use this metric to assess the business climate and economic conditions in Maryland.
Key Facts
- Proprietors' Nonfarm Income in Maryland reached a record high of $44.3 billion in Q4 2022.
- The state's proprietors' income has grown by 8.2% annually on average over the past 5 years.
- Maryland ranks 5th among U.S. states for total proprietors' nonfarm income.
FAQs
Q: What does this economic trend measure?
A: Proprietors' Nonfarm Income in Maryland measures the net earnings of self-employed individuals in non-agricultural businesses located within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the entrepreneurial activity and economic health of Maryland's private sector, which is crucial for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data from tax filings and other sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use Proprietors' Nonfarm Income in Maryland to assess the state's business climate and overall economic conditions.
Q: Are there update delays or limitations?
A: This data is released quarterly with a lag of approximately 3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Proprietors' Nonfarm Income in Maryland (MDONON), retrieved from FRED.