Average Hourly Earnings of All Employees: Professional and Business Services in Ohio
SMU39000006000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.21
Year-over-Year Change
5.84%
Date Range
1/1/2007 - 6/1/2025
Summary
The Average Hourly Earnings of All Employees in the Professional and Business Services sector in Ohio measures the average hourly pay for workers in this key economic segment.
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 data series provides insights into wage trends and labor costs within the professional and business services industry in the state of Ohio. It is a valuable indicator of economic health and competitiveness.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to gauge the strength of the labor market and cost pressures facing businesses.
Key Facts
- Ohio's professional services wages are above the national average.
- Earnings in this sector have risen steadily over the past decade.
- The data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This data series measures the average hourly earnings of all employees in the professional and business services sector in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and labor costs within a key economic segment, which is important for understanding the state's economic competitiveness and cost pressures facing businesses.
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: Policymakers and analysts use this metric to gauge the strength of the labor market and cost pressures facing businesses in Ohio.
Q: Are there update delays or limitations?
A: The data is released monthly with no significant update delays.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Professional and Business Services in Ohio (SMU39000006000000003), retrieved from FRED.