Average Hourly Earnings of All Employees: Manufacturing in Maryland
Annual
SMU24000003000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.00
Year-over-Year Change
60.36%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the average hourly earnings of production and nonsupervisory employees in the private sector, a key indicator of wage growth and economic well-being.
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 provides a comprehensive measure of changes in the earnings of private sector workers over time, a crucial factor in assessing the overall health of the labor market and consumer purchasing power.
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 analysts monitor this trend to gauge inflationary pressures and inform decisions on monetary policy and economic interventions.
Key Facts
- Annual earnings have increased by over 50% since 2000.
- Wages grew at a faster pace during the economic recovery after the Great Recession.
- Stagnant wage growth has been a concern for policymakers in recent years.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average hourly earnings of private sector production and nonsupervisory employees, providing insight into wage growth and the overall state of the labor market.
Q: Why is this trend relevant for users or analysts?
A: This trend is a crucial indicator of economic well-being and inflationary pressures, helping policymakers and analysts assess the strength of consumer purchasing power and make informed decisions.
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 analysts monitor this trend to gauge inflationary pressures and inform decisions on monetary policy and economic interventions.
Q: Are there update delays or limitations?
A: The Annual data is released monthly by the U.S. Bureau of Labor Statistics, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Annual (SMU24000003000000003A), retrieved from FRED.