Covered Employment in Maine
MECEMPLOY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
630,589.00
Year-over-Year Change
0.36%
Date Range
6/10/2006 - 8/2/2025
Summary
The Covered Employment in Maine trend measures the number of employees covered by unemployment insurance in the state of Maine. This data is an important indicator of economic activity and labor market conditions.
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
Covered employment refers to jobs that are subject to state and federal unemployment insurance laws. This metric provides a comprehensive view of the Maine labor market and is widely used by economists and policymakers to analyze employment trends and the overall health of the state's economy.
Methodology
The data is collected through reports from employers who pay unemployment insurance taxes.
Historical Context
Covered employment is a key input for forecasting tax revenues, assessing workforce development needs, and evaluating the effectiveness of economic policies.
Key Facts
- Maine's covered employment reached a record high in 2019.
- The COVID-19 pandemic caused a sharp decline in covered employment in 2020.
- Manufacturing is a major contributor to covered employment in Maine.
FAQs
Q: What does this economic trend measure?
A: The Covered Employment in Maine trend measures the number of jobs in the state that are covered by unemployment insurance laws.
Q: Why is this trend relevant for users or analysts?
A: Covered employment is a comprehensive indicator of the Maine labor market and economy, providing insights into workforce trends, business activity, and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through mandatory reports from employers who pay unemployment insurance taxes.
Q: How is this trend used in economic policy?
A: Covered employment data is used by policymakers, economists, and institutions to forecast tax revenues, assess workforce development needs, and evaluate the effectiveness of economic policies in Maine.
Q: Are there update delays or limitations?
A: The Covered Employment in Maine data is typically released with a 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Covered Employment in Maine (MECEMPLOY), retrieved from FRED.