Average Weekly Earnings of All Employees: Total Private in Maryland
SMU24000000500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,165.17
Year-over-Year Change
32.11%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all private sector employees in the state of Maryland. It provides insights into wage growth and labor market conditions in the state.
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 Weekly Earnings of All Employees: Total Private in Maryland data series tracks the average weekly earnings of private sector workers in the state. It is a key indicator of economic health, as wage growth reflects productivity, employment, and cost-of-living changes.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by policymakers, analysts, and businesses to gauge Maryland's economic performance and labor market dynamics.
Key Facts
- Maryland's average weekly private sector earnings were $1,191 in 2022.
- Earnings have increased by 3.5% annually on average over the past 5 years.
- The state's private sector employment reached a record high in 2022.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings of all private sector employees in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: Wage growth is a key indicator of economic health, reflecting productivity, employment, and cost-of-living changes in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers, analysts, and businesses to gauge Maryland's economic performance and labor market dynamics.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Total Private in Maryland (SMU24000000500000011A), retrieved from FRED.