Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Maryland
SMU24000004000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.06
Year-over-Year Change
2.50%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the trade, transportation, and utilities industry in Maryland. It provides insight into compensation levels and labor market dynamics in this key 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
The Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Maryland is an economic indicator that tracks the average hourly pay for workers in this industry within the state. It is used by economists and policymakers to monitor workforce trends and assess the overall health of the state's labor market.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is important for understanding consumer demand, inflation pressures, and the broader economic conditions in Maryland.
Key Facts
- Maryland's trade, transportation, and utilities sector employs over 600,000 workers.
- Average hourly earnings in this industry have risen by 15% over the past 5 years.
- This trend provides a leading indicator of consumer spending power in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to employees in the trade, transportation, and utilities industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding labor market dynamics, consumer demand, and inflationary pressures within Maryland's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to monitor workforce trends and assess the overall health of Maryland's labor market, which informs decisions on issues like taxes, regulations, and infrastructure investment.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Maryland (SMU24000004000000003), retrieved from FRED.