Average Hourly Earnings of All Employees: Manufacturing in Maine
SMU23000003000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.28
Year-over-Year Change
4.59%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Manufacturing in Maine' series tracks the average hourly wage paid to manufacturing workers in the state of Maine. This metric is a key indicator of economic conditions and labor market trends.
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 measures the average hourly wage for all employees in the manufacturing sector across the state of Maine. It provides insight into the compensation levels and cost of labor for a vital part of the state's economy.
Methodology
The data is collected through surveys of businesses and establishments in Maine.
Historical Context
Analysts and policymakers use this metric to assess the economic health and competitiveness of Maine's manufacturing industry.
Key Facts
- Manufacturing accounts for over 10% of Maine's GDP.
- Average hourly wages in Maine manufacturing are about 15% higher than the national average.
- Wages have risen steadily in this sector over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average hourly wage paid to employees in the manufacturing sector across the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the labor costs and compensation levels within a key industry in Maine's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in the Maine manufacturing sector.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the competitiveness and health of Maine's manufacturing industry.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Manufacturing in Maine (SMU23000003000000003), retrieved from FRED.