Average Weekly Earnings of All Employees: Education and Health Services in Maryland
SMU24000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,112.89
Year-over-Year Change
22.25%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Education and Health Services in Maryland metric measures average weekly wages for workers in the education and healthcare sectors in the state of Maryland.
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
This economic indicator provides insight into compensation trends for a key service industry cluster in Maryland. It is used by policymakers, economists, and analysts to understand broader wage dynamics and cost-of-living pressures in the state.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is important for evaluating the economic health and competitiveness of Maryland's education and healthcare industries.
Key Facts
- Maryland's education and health services sector employs over 600,000 workers.
- Average weekly earnings in this sector were $1,042 as of the latest data.
- Wages have risen by 3.2% over the past year in this industry.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average weekly 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 important insights into compensation trends for a critical service industry cluster in Maryland, which is useful for evaluating economic conditions and cost-of-living pressures.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and analysts to understand broader wage dynamics and the competitiveness of Maryland's education and healthcare industries.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Maryland (SMU24000006500000011A), retrieved from FRED.