Average Weekly Earnings of All Employees: Other Services in Ohio
SMU39000008000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
890.23
Year-over-Year Change
63.11%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the 'Other Services' industry in Ohio. It is an important indicator of labor market conditions and consumer spending power 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
The 'Average Weekly Earnings of All Employees: Other Services in Ohio' metric tracks the average weekly nominal wages for workers in the 'Other Services' sector, which includes personal and laundry services, religious and civic organizations, and other miscellaneous services. This data provides insights into income and purchasing power trends for a key segment of the Ohio economy.
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 economists analyze this metric to assess the economic health and consumer demand in Ohio.
Key Facts
- The 'Other Services' sector accounts for over 5% of total employment in Ohio.
- Average weekly earnings in this sector have increased by 15% over the past 5 years.
- Ohio's 'Other Services' earnings are typically lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly nominal wages for workers in the 'Other Services' sector in Ohio, which includes personal and laundry services, religious and civic organizations, and other miscellaneous services.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into income and purchasing power trends for a key segment of the Ohio economy, which is useful for policymakers and economists analyzing the state's economic health and consumer demand.
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 economists analyze this metric to assess the economic health and consumer demand in Ohio, which can inform decisions and policies related to employment, wages, and consumer spending.
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 complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Other Services in Ohio (SMU39000008000000011A), retrieved from FRED.