Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Ohio
SMU39000003100000030 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,199.61
Year-over-Year Change
6.89%
Date Range
1/1/2001 - 6/1/2025
Summary
This economic trend measures the average weekly earnings of production employees in the manufacturing durable goods sector in Ohio. It provides insights into wage trends and labor market conditions in this key industrial 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
The Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Ohio series tracks the average weekly wages paid to production workers in durable manufacturing firms located in the state of Ohio. This metric is a key indicator of economic activity and the health of the labor market.
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 assess the strength of Ohio's manufacturing sector and broader economic conditions.
Key Facts
- Ohio is a major manufacturing hub, accounting for over 15% of the state's GDP.
- Durable goods manufacturing makes up nearly half of Ohio's total manufacturing output.
- Weekly earnings in Ohio's durable goods sector have grown by over 20% 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 durable goods 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 market conditions in Ohio's key manufacturing industries, which is critical information for policymakers and economic analysts.
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 assess the strength of Ohio's manufacturing sector and broader economic conditions, which informs decisions on economic policy and workforce development.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Ohio (SMU39000003100000030), retrieved from FRED.