Other Services (Except Public Administration) Wages and Salaries in Maine
MEWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,274,989.00
Year-over-Year Change
23.68%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Other Services (Except Public Administration) Wages and Salaries in Maine' trend measures earnings in the service sector outside of public administration in the state of Maine. This metric is important for understanding employment and economic conditions in the region.
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 series tracks total wages and salaries paid to employees in Maine's 'other services' industries, excluding public administration. It provides insight into compensation levels and labor market trends in this key part of the state's economy.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers use this metric to assess economic performance and guide decisions.
Key Facts
- This series dates back to 1990.
- Maine's 'other services' sector accounts for over 10% of state GDP.
- Wages in this sector have risen by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend tracks total wages and salaries paid to employees in Maine's 'other services' industries, excluding public administration.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into employment and compensation levels in a key part of Maine's economy, which is important for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess economic conditions and guide decisions affecting Maine's labor market and service sector.
Q: Are there update delays or limitations?
A: This series is updated quarterly by the Federal Reserve with a typical 2-month lag.
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Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in Maine (MEWOTH), retrieved from FRED.