Average Weekly Earnings of All Employees: Goods Producing in Maryland
SMU24000000600000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,506.56
Year-over-Year Change
4.12%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Goods Producing in Maryland' measures the average weekly earnings of workers in the goods-producing sector in the state of Maryland. This metric provides insight into labor market conditions and the economic health of Maryland's manufacturing and industrial base.
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 production and supervisory personnel, in the goods-producing industries located in Maryland. It is a key economic indicator used to analyze trends in worker compensation, productivity, and the overall strength of the state's industrial sector.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to assess the competitiveness and resilience of Maryland's manufacturing and industrial base.
Key Facts
- Maryland's goods-producing sector accounts for over 300,000 jobs.
- Average weekly earnings in this sector have risen by 20% over the past decade.
- Manufacturing makes up the largest share of Maryland's goods-producing industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees, both production and supervisory personnel, in the goods-producing industries located in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions and the overall health of Maryland's manufacturing and industrial base, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the competitiveness and resilience of Maryland's manufacturing and industrial sectors, which are crucial for the state's economic growth and development.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 months after the reference period, and may be subject to revisions.
Similar SMU Trends
Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maryland
MDELCEQAPMANNGSP
Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Maryland
MDFOODBEVTOBMANRGSP
Average Duration (in Quarters) from Business Application to Formation Within Four Quarters: Total for All NAICS in Maryland
BFDUR4QTOTALNSAMD
Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Maryland
MDFURNMANRGSP
Average Hourly Earnings of All Employees: Mining, Logging, and Construction in Maryland
SMU24000001500000003
Employment Level for Maryland
EMPLOYMD
Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Goods Producing in Maryland (SMU24000000600000011), retrieved from FRED.