Average Hourly Earnings of All Employees: Education and Health Services in Maryland
SMU24000006500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.42
Year-over-Year Change
20.78%
Date Range
1/1/2007 - 1/1/2024
Summary
This series measures the average hourly earnings of all employees in the education and health services sector in Maryland. It provides insights into wage trends and labor market conditions in this important economic segment.
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 metric tracks changes in the typical hourly wage paid to workers in the education and health services industry in Maryland. This data point is used by economists and policymakers to assess the state's labor market and cost-of-living dynamics.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average hourly earnings can inform decisions around employment, investment, and social policies.
Key Facts
- Maryland's education and health services sector employs over 500,000 workers.
- Average hourly earnings in this sector have risen by 20% over the past decade.
- Wages in the education and health services industry tend to be higher than the state average.
FAQs
Q: What does this economic trend measure?
A: This series measures the average hourly earnings of all employees in the education and health services sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into labor market conditions and wage trends in a key economic sector, which is useful for policymakers, businesses, and workers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average hourly earnings can inform decisions around employment, investment, and social policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services in Maryland (SMU24000006500000003A), retrieved from FRED.