Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Maryland
SMU24000003100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,228.80
Year-over-Year Change
66.87%
Date Range
1/1/2001 - 1/1/2024
Summary
This trend measures the average weekly earnings of production employees in the manufacturing of durable goods in Maryland. It provides insights into economic conditions and wage levels in the state's manufacturing sector.
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 weekly earnings of production employees in the manufacturing of durable goods in Maryland is an important economic indicator that reflects the strength and wage dynamics of the state's manufacturing industry. It is widely used by economists, policymakers, and analysts to assess the economic performance and labor market trends in the region.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of manufacturing establishments.
Historical Context
This trend is closely monitored by policymakers and market participants to understand the economic conditions and labor market developments in Maryland.
Key Facts
- Maryland's manufacturing sector employs over 100,000 workers.
- Durable goods account for over 60% of Maryland's manufacturing output.
- The average weekly earnings in the state's durable goods manufacturing have increased by 15% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the manufacturing of durable goods in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic conditions and wage dynamics in Maryland's manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of manufacturing establishments in Maryland.
Q: How is this trend used in economic policy?
A: Policymakers and market participants closely monitor this trend to understand the economic performance and labor market developments in Maryland's manufacturing industry.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Maryland (SMU24000003100000030A), retrieved from FRED.