Average Weekly Earnings of All Employees: Manufacturing in Maine
SMU23000003000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,205.74
Year-over-Year Change
30.28%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Earnings of All Employees: Manufacturing in Maine' is a key economic indicator that measures the average weekly earnings of manufacturing workers in the state of Maine. This metric provides insights into wage trends and the overall health of the manufacturing sector in the state.
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 economic series tracks the average weekly earnings of all employees in the manufacturing industry in Maine. It is a useful indicator of the state's economic conditions, as manufacturing is an important part of Maine's economy. Economists and policymakers analyze this data to understand trends in labor costs and productivity within the manufacturing sector.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the competitiveness of Maine's manufacturing industry and informing economic and workforce development policies.
Key Facts
- Maine's manufacturing sector accounts for 10% of the state's GDP.
- Average weekly earnings in Maine manufacturing have increased by 3.2% over the past year.
- The manufacturing industry employs over 50,000 workers in Maine.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the manufacturing industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and the overall health of the manufacturing sector in Maine, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the competitiveness of Maine's manufacturing industry and informing economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a slight delay due to the survey process.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Manufacturing in Maine (SMU23000003000000011A), retrieved from FRED.