Average Hourly Earnings of All Employees: Manufacturing in Maryland
SMU24000003000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.57
Year-over-Year Change
0.22%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees: Manufacturing in Maryland measures the average hourly wage for manufacturing workers in the state. This metric is a key indicator of economic conditions and labor market trends.
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 hourly wage for all employees working in the manufacturing sector in Maryland. It is a valuable statistic for analyzing the overall health of the state's economy and the relative competitiveness of manufacturing jobs.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the economic well-being of Maryland's manufacturing workforce and guide decisions on issues like minimum wage, cost of living, and workforce development.
Key Facts
- Manufacturing is a key industry in Maryland, employing over 100,000 workers.
- Average hourly earnings in Maryland manufacturing have risen by 20% over the past decade.
- Manufacturing wages in Maryland typically exceed the state's overall average hourly earnings.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for all employees working in the manufacturing sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the economic health and competitiveness of Maryland's manufacturing industry, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the economic well-being of Maryland's manufacturing workforce and guide decisions on issues like minimum wage, cost of living, and workforce development.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Manufacturing in Maryland (SMU24000003000000003), retrieved from FRED.