Average Weekly Earnings of All Employees: Education and Health Services in Maine
SMU23000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,135.53
Year-over-Year Change
48.56%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Education and Health Services in Maine' trend measures the average weekly earnings of workers in the education and health services industries in the state of Maine. This data is closely watched by economists and policymakers to gauge the economic health and purchasing power of an important 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
This series tracks the average weekly earnings of all employees, including both full-time and part-time workers, in the education and health services industries across the state of Maine. It provides insight into wage growth and productivity trends within these key service sectors that are major employers in the state.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to understand the economic conditions and consumer spending power in Maine's education and healthcare sectors.
Key Facts
- Maine's education and health services industries employ over 170,000 workers.
- Average weekly earnings in this sector have risen by over 25% in the past decade.
- Wages in this sector are about 10% higher than the statewide average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees, both full-time and part-time, working in the education and health services industries across the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into wage growth and consumer spending power in two of Maine's largest and most important economic sectors, which are major employers in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to understand economic conditions and consumer spending power in Maine's education and healthcare sectors, which are crucial to the state's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Maine (SMU23000006500000011A), retrieved from FRED.