Average Hourly Earnings of Production Employees: Manufacturing in Maryland
SMU24000003000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.88
Year-over-Year Change
-0.22%
Date Range
1/1/2001 - 6/1/2025
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Maryland measures the average hourly wage paid to manufacturing production workers in the state. This metric provides insight into labor costs and productivity trends within Maryland's manufacturing sector.
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 data series tracks the average hourly wage paid to production employees in the manufacturing industry across the state of Maryland. It is a key indicator of labor market conditions and compensation levels for an important segment of the state's workforce.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the competitiveness and health of Maryland's manufacturing industry.
Key Facts
- Maryland's manufacturing sector employs over 100,000 workers.
- Average hourly earnings in Maryland manufacturing have increased by 15% over the past decade.
- The state's manufacturing wage levels are slightly below the national average.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average hourly wage paid to production employees in the manufacturing industry across the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and productivity trends within Maryland's manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the competitiveness and health of Maryland's manufacturing industry.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Maryland (SMU24000003000000008), retrieved from FRED.