Average Weekly Earnings of All Employees: Professional and Business Services in Maryland
SMU24000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,710.58
Year-over-Year Change
6.99%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of all employees in the professional and business services sector in Maryland. It provides insights into wage trends and economic conditions in 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 All Employees: Professional and Business Services in Maryland is a key economic indicator that tracks changes in compensation for workers in the professional and business services sector within the state. This metric is used by economists, policymakers, and businesses to analyze labor market dynamics and workforce trends.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored for its implications on business investment, consumer spending, and broader economic performance.
Key Facts
- The series began in 2006.
- The current average weekly earnings are $1,314.
- Earnings in this sector have grown by 18% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the professional and business services sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage dynamics and labor market conditions within a key industry, which is valuable for economic analysis, business planning, and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers 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 businesses for its implications on investment, spending, and overall economic performance.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Maryland (SMU24000006000000011), retrieved from FRED.