Average Weekly Earnings of All Employees: Other Services in Maryland
SMU24000008000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,116.93
Year-over-Year Change
-5.09%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Other Services in Maryland' trend measures the average weekly wages for workers in the 'Other Services' industry sector in the state of Maryland. This data provides insight into the earnings and economic conditions of a key service-based industry within the state.
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 'Other Services' industry sector includes a wide range of service-based businesses such as repair and maintenance, personal care, religious organizations, and civic and professional associations. The average weekly earnings metric allows economists and policymakers to track changes in employee compensation within this important part of Maryland's economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey of non-farm businesses.
Historical Context
Monitoring trends in average weekly earnings helps inform economic policy decisions and provides context for analyzing the overall health of Maryland's labor market.
Key Facts
- Maryland's 'Other Services' sector accounts for over 5% of the state's total employment.
- Average weekly earnings in this sector have risen by over 20% in the past decade.
- The 'Other Services' industry is one of the fastest-growing sectors of Maryland's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the 'Other Services' industry sector within the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: Tracking changes in average weekly earnings for this service-based industry provides insight into the overall economic conditions and labor market trends within Maryland.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey of non-farm businesses.
Q: How is this trend used in economic policy?
A: Monitoring trends in average weekly earnings helps inform economic policy decisions and provides context for analyzing the overall health of Maryland's labor market.
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: Other Services in Maryland (SMU24000008000000011), retrieved from FRED.