Average Hourly Earnings of All Employees: Total Private in Maryland
SMU24000000500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35.68
Year-over-Year Change
2.44%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all private sector employees in the state of Maryland. It provides valuable insights into the state's labor market conditions and wage growth.
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: Total Private in Maryland tracks the average hourly pay for private sector workers in the state. It is an important indicator of the state's economic health and cost of living.
Methodology
The data is collected through surveys of private sector employers in Maryland by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the strength of the state's economy and labor market.
Key Facts
- Maryland's average hourly earnings are higher than the national average.
- Wages have steadily increased over the past decade in the state.
- The trend is a key indicator of Maryland's economic competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all private sector employees in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the strength of Maryland's labor market and cost of living, which are crucial for businesses, policymakers, and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private sector employers in Maryland by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and businesses to assess the strength of Maryland's economy and labor market.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with some potential for slight delays in publication.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Total Private in Maryland (SMU24000000500000003), retrieved from FRED.