Average Hourly Earnings of Production Employees: Retail Trade in Utah
Annual
SMU49000004200000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.80
Year-over-Year Change
52.72%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the yearly average of seasonally adjusted total nonfarm employment in Maine. This metric is widely used by economists and policymakers to analyze labor market conditions and economic performance.
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 Annual trend represents the average level of total nonfarm employment in Maine over a 12-month period. It is a key indicator of the state's overall economic activity and labor market health.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of business establishments.
Historical Context
The Annual trend for Maine is closely monitored by state and federal policymakers to inform economic and workforce development strategies.
Key Facts
- Maine's annual nonfarm employment averaged 620,000 in 2022.
- The Annual trend reached a record high of 642,000 in 2019 before declining during the COVID-19 pandemic.
- Employment in Maine's service-providing sectors accounts for over 80% of the Annual nonfarm total.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the yearly average of seasonally adjusted total nonfarm employment in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: The Annual employment trend is a key indicator of Maine's overall economic performance and labor market conditions, which is crucial information for policymakers, businesses, and job seekers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of business establishments in Maine.
Q: How is this trend used in economic policy?
A: The Annual employment trend for Maine is closely monitored by state and federal policymakers to inform economic and workforce development strategies.
Q: Are there update delays or limitations?
A: The Annual data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU49000004200000008A), retrieved from FRED.