Real Gross Domestic Product: Educational Services (61) in Ohio
OHEDCATRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,047.40
Year-over-Year Change
6.15%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Educational Services (61) in Ohio measures the inflation-adjusted economic output of the educational services sector in Ohio. This metric is important for economists and policymakers to assess the state's economic health and industry-specific trends.
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 represents the real, inflation-adjusted value of the gross domestic product (GDP) generated by the educational services industry in Ohio. It provides insight into the productivity and growth of this key economic sector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Tracking this educational services GDP trend helps inform state and local policies related to education funding, workforce development, and economic diversification.
Key Facts
- Ohio's educational services GDP accounts for approximately 3% of the state's total economic output.
- This sector has seen steady growth of around 2% annually over the past decade.
- The educational services industry is a major employer in Ohio, accounting for over 300,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the educational services industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Tracking the educational services GDP in Ohio provides valuable insight into the productivity and growth of this key economic sector, which informs policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This educational services GDP trend helps inform state and local policies related to education funding, workforce development, and economic diversification.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Ohio (OHEDCATRQGSP), retrieved from FRED.