Administrative and Waste Services Earnings in Maine
This dataset tracks administrative and waste services earnings in maine over time.
Latest Value
2184521.00
Year-over-Year Change
1.61%
Date Range
1/1/1998 - 1/1/2025
Summary
The Administrative and Waste Services Earnings in Maine measure the average hourly earnings of workers in the administrative and waste services industry within the state of Maine. This metric is closely watched by economists as a gauge of labor market conditions and cost pressures.
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 Administrative and Waste Services Earnings in Maine represents the average hourly wage paid to employees in industries such as office administration, facilities support, and waste management services. This data is used to analyze trends in labor costs and worker compensation within Maine's service sector.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this series to understand broader economic and employment conditions in Maine.
Key Facts
- Maine's administrative and waste services industry employs over 30,000 workers.
- Earnings in this sector have risen by 12% over the past 5 years.
- The pandemic caused a temporary dip in administrative services wages in 2020.
FAQs
Q: What does this economic trend measure?
A: The Administrative and Waste Services Earnings in Maine tracks the average hourly wages paid to workers in industries like office administration, facilities support, and waste management within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and cost pressures in Maine's service sector, which is crucial for understanding the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this series to gauge employment and wage trends in Maine, which informs decisions around workforce development, taxation, and other economic policies.
Q: Are there update delays or limitations?
A: The Administrative and Waste Services Earnings in Maine are released on a monthly basis with a lag of about one month.
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Citation
U.S. Federal Reserve, Administrative and Waste Services Earnings in Maine (MEEADM), retrieved from FRED.