Average Weekly Earnings of All Employees: Professional and Business Services in Maine
SMU23000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,270.29
Year-over-Year Change
-1.29%
Date Range
1/1/2007 - 6/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Professional and Business Services in Maine' is a key economic indicator that tracks the average weekly earnings for all employees in the professional and business services sector within the state of Maine.
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 data series provides insight into the compensation levels and economic health of the professional and business services industry in Maine, which is an important driver of the state's economy. It is used by economists, policymakers, and businesses to analyze trends in labor costs and productivity.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers.
Historical Context
This metric is relevant for understanding the broader economic conditions and labor market dynamics in Maine.
Key Facts
- The average weekly earnings in Maine's professional and business services sector were $1,189 as of the latest data.
- This sector accounts for over 15% of total employment in Maine.
- Wages in this industry have grown by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees within the professional and business services sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into labor costs and productivity trends in a key industry for the Maine economy, which is valuable information for businesses, policymakers, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers in Maine.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to monitor labor market conditions and compensation levels in Maine, which can inform decisions around economic development, taxation, and workforce initiatives.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be a 1-2 month lag in the latest figures being available.
Similar SMU Trends
Average Hourly Earnings of All Employees: Manufacturing in Maine
SMU23000003000000003
Chain-Type Quantity Index for Real GDP: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Maine
MEFRBCIQGSP
All Employees: Real Estate and Rental and Leasing in Maine
SMU23000005553000001A
Number of Identified Exporters to United Kingdom from Maine
MEGBRA475SCEN
90% Confidence Interval Upper Bound of Estimate of Percent of People Under Age 5 in Poverty for Maine
PPCIUB0T4ME23000A156NCEN
All Employees: Service-Providing in Maine
SMU23000000700000001
Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Maine (SMU23000006000000011), retrieved from FRED.