Average Hourly Earnings of All Employees: Total Private in Maine
SMU23000000500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.45
Year-over-Year Change
3.34%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Total Private in Maine' economic trend measures the average hourly wage for private sector workers in the state of Maine. This metric is an important indicator of labor market conditions and cost-of-living pressures for Maine residents.
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 the average hourly earnings for all private sector employees in Maine, providing insight into broader wage and income trends in the state's economy. Economists and policymakers use this data to analyze regional labor market dynamics and guide decisions around economic development, taxation, and social programs.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is widely used to inform monetary and fiscal policy decisions at the state and federal level.
Key Facts
- The average hourly wage in Maine's private sector was $28.14 as of the latest data.
- Maine's private sector hourly earnings have increased by 3.2% over the past year.
- Wages in Maine's private sector are approximately 5% lower than the national average.
FAQs
Q: What does this economic trend measure?
A: The 'Average Hourly Earnings of All Employees: Total Private in Maine' measures the average hourly wage for private sector workers in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into labor market conditions and cost-of-living pressures for Maine residents, which is important for economic policy decisions.
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 economic indicator is widely used to inform monetary and fiscal policy decisions at the state and federal level.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions of the CES survey.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Total Private in Maine (SMU23000000500000003), retrieved from FRED.