Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Maryland
SMU24000003100000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.36
Year-over-Year Change
0.51%
Date Range
1/1/2001 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in Maryland. It provides important insights into wage dynamics and labor market conditions in this key industry.
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 Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Maryland series tracks the average hourly compensation for workers involved in the production of durable goods, such as machinery, vehicles, and electronics, in the state of Maryland. This metric is a valuable indicator of the strength and competitiveness of the state's manufacturing sector.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health of the manufacturing industry and the broader Maryland economy.
Key Facts
- Maryland's durable goods manufacturing sector employs over 100,000 workers.
- Average hourly earnings in this industry have risen by 15% in the past decade.
- Durable goods manufacturing accounts for nearly 10% of Maryland's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the durable goods manufacturing sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into wage dynamics and labor market conditions in a key manufacturing industry, which is important for evaluating the overall health of the Maryland economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and industry analysts to assess the competitiveness and performance of the manufacturing sector in Maryland.
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 Production Employees: Manufacturing: Durable Goods in Maryland (SMU24000003100000008), retrieved from FRED.