Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Maine
SMU23000004000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.70
Year-over-Year Change
5.32%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average hourly earnings for employees in the trade, transportation, and utilities sector in Maine. It provides insights into the labor market and wage dynamics within this important industry group.
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 Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Maine is a key economic indicator that tracks changes in the hourly compensation paid to workers in these sectors. It is widely used by economists, policymakers, and businesses to monitor the strength of the regional labor market and assess broader economic conditions.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by the Federal Reserve and other policymakers as they evaluate the overall health of the Maine economy and make informed decisions.
Key Facts
- Maine's trade, transportation, and utilities sector employs over 200,000 workers.
- Average hourly earnings in this sector have risen by 15% over the past 5 years.
- Wages in this industry are typically higher than the statewide private-sector average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees working in the trade, transportation, and utilities sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the labor market dynamics and wage growth within a key industry group, which is crucial for understanding the overall health of the Maine 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 closely monitored by the Federal Reserve and other policymakers to evaluate the strength of the Maine economy and inform their policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a one-month lag and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Maine (SMU23000004000000003), retrieved from FRED.