Average Hourly Earnings of All Employees: Other Services in Ohio
SMU39000008000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.57
Year-over-Year Change
10.37%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Other Services in Ohio' measures the average hourly wage paid to workers in the other services sector in Ohio. This metric is a key indicator of economic conditions and labor market trends 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 series tracks the average hourly earnings for all employees across the 'other services' industry in Ohio, which includes a diverse range of businesses such as repair and maintenance, personal and laundry services, and religious and civic organizations. The data is used by economists and policymakers to analyze wage growth, labor costs, and the overall health of the state's service sector.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by economists, investors, and government officials to gauge the strength of Ohio's labor market and service industry performance.
Key Facts
- Ohio's other services sector employs over 500,000 workers.
- Average hourly earnings in this sector have increased by 15% over the past 5 years.
- The other services industry accounts for approximately 7% of Ohio's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to workers in the 'other services' industry in Ohio, which includes a variety of businesses such as repair, personal services, and religious organizations.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of economic conditions and labor market trends in Ohio's service sector, providing insights into wage growth, labor costs, and the overall health of this critical industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, investors, and government officials to assess the strength of Ohio's labor market and service industry performance, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Other Services in Ohio (SMU39000008000000003), retrieved from FRED.