Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Maryland
SMU24000003200000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
964.33
Year-over-Year Change
50.05%
Date Range
1/1/2001 - 1/1/2024
Summary
This trend measures the average weekly earnings of production employees in the non-durable goods manufacturing sector in Maryland. It provides insights into labor costs and economic conditions within this important 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 Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Maryland is a key indicator of wage levels and labor market dynamics for this specific manufacturing segment and geographic region. It is used by economists, policymakers, and businesses to analyze employment trends and production costs.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is relevant for understanding the state of Maryland's economy and the competitiveness of its non-durable goods manufacturing sector.
Key Facts
- Manufacturing non-durable goods account for a significant portion of Maryland's economy.
- Wages in this sector can impact the state's cost of living and business competitiveness.
- Trends in this metric are closely watched by policymakers and industry analysts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the non-durable goods manufacturing sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and economic conditions within Maryland's important non-durable goods manufacturing industry, which is relevant for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to analyze employment trends and production costs, which can inform economic and workforce development policies in Maryland.
Q: Are there update delays or limitations?
A: The data is subject to typical government statistical reporting lags, but otherwise provides a reliable indicator of wage trends in this sector.
Related Trends
Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Maryland
MDNMPRPPSERVERENT
All Employees: Utilities in Maryland
SMU24000004322000001A
All Employees: Professional and Business Services: Employment Services in Maryland
SMU24000006056130001
All Employees: Retail Trade: Grocery Stores in Maryland
SMU24000004244510001A
Housing Inventory: New Listing Count Month-Over-Month in Maryland
NEWLISCOUMMMD
Average Hourly Earnings of All Employees: Leisure and Hospitality in Maryland
SMU24000007000000003
Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Maryland (SMU24000003200000030A), retrieved from FRED.