Average Weekly Earnings of All Employees: Private Service Providing in Ohio
SMU39000000800000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,053.96
Year-over-Year Change
4.56%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Private Service Providing in Ohio measure the average weekly earnings for private service-providing workers in Ohio. This metric provides insight into wage trends and cost-of-living dynamics 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 for all private service-providing employees in Ohio, including sectors like trade, transportation, utilities, information, financial activities, professional services, education, health care, and leisure. It is a key indicator of economic conditions and purchasing power for Ohio workers.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the economic health and income levels of Ohio's private service sector.
Key Facts
- Ohio's private service sector employs over 3 million workers.
- Average weekly earnings in this sector have increased by 15% over the past decade.
- Service-providing industries account for over 70% of Ohio's GDP.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average weekly earnings for all private service-providing employees in the state of Ohio, covering a range of industries like trade, transportation, and healthcare.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the income levels and purchasing power of Ohio's service sector workers, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic health and income dynamics of Ohio's private service sector, which informs decision-making around employment, wages, and cost-of-living issues.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month lag between the reference period and publication.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Private Service Providing in Ohio (SMU39000000800000011), retrieved from FRED.