Average Hourly Earnings of All Employees: Professional and Business Services in Maine
SMU23000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.82
Year-over-Year Change
0.14%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic indicator tracks the average hourly earnings of all employees in the professional and business services sector in Maine. It provides insight into wage trends and labor market conditions in this key industry.
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 Average Hourly Earnings of All Employees: Professional and Business Services in Maine metric measures the average hourly pay for workers in Maine's professional and business services sector. This data series is used by economists and policymakers to analyze labor market dynamics and compensation trends in this important industry.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for assessing the health of Maine's professional services economy and informing policy decisions.
Key Facts
- Measures average hourly pay in Maine's professional and business services sector.
- Provides insight into labor market conditions and compensation trends.
- Data collected through establishment surveys by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average hourly earnings of all employees in the professional and business services sector in Maine.
Q: Why is this trend relevant for users or analysts?
A: This data is used by economists and policymakers to analyze labor market dynamics and compensation trends in Maine's professional services industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing the health of Maine's professional services economy and informing policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological limitations of the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Maine (SMU23000006000000003), retrieved from FRED.