Average Weekly Earnings of All Employees: Professional and Business Services in Ohio
SMU39000006000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,366.02
Year-over-Year Change
4.76%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Professional and Business Services in Ohio is an important economic indicator that measures the average weekly earnings of workers in the professional and business services sector in the state of Ohio.
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 the income and spending power of workers in Ohio's professional and business services industry, which is a key driver of the state's economy. Economists and policymakers use this information to assess economic conditions and make informed decisions.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the health of Ohio's labor market and consumer demand.
Key Facts
- Ohio's professional and business services sector employs over 1 million workers.
- Average weekly earnings in this sector have increased by 20% over the past decade.
- The professional and business services industry accounts for over 15% of Ohio's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly 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 trend provides insight into the income and spending power of a key segment of Ohio's workforce, which is important for assessing economic conditions and consumer demand.
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 economists use this trend to monitor the health of Ohio's labor market and make informed decisions about economic and workforce development policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Professional and Business Services in Ohio (SMU39000006000000011), retrieved from FRED.