Finance and Insurance Wages and Salaries in Maine
MEWFIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,765,908.00
Year-over-Year Change
15.86%
Date Range
1/1/1998 - 1/1/2025
Summary
This data series tracks the total wages and salaries paid in the finance and insurance industry in the state of Maine. It provides insight into the economic activity and labor market conditions within this important sector.
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 Finance and Insurance Wages and Salaries in Maine data series measures the total compensation paid to employees in the finance and insurance industry across the state. This metric is used by economists and policymakers to analyze labor market trends, industry performance, and overall economic conditions in Maine.
Methodology
The data is collected through surveys of businesses and establishments in Maine and compiled by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator helps inform decisions around monetary policy, workforce development, and regional economic strategies.
Key Facts
- Maine's finance and insurance sector accounts for over 30,000 jobs.
- Total wages and salaries in this industry have grown by 20% over the past 5 years.
- The average annual wage in Maine's finance and insurance sector is $75,000.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total wages and salaries paid to employees in Maine's finance and insurance industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and labor market conditions of a critical sector of the Maine economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Maine by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator helps inform decisions around monetary policy, workforce development, and regional economic strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-month delay.
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Citation
U.S. Federal Reserve, Finance and Insurance Wages and Salaries in Maine (MEWFIN), retrieved from FRED.