Mining Earnings in Ohio
OHEMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,229,936.00
Year-over-Year Change
16.64%
Date Range
1/1/1998 - 1/1/2025
Summary
The Mining Earnings in Ohio trend measures the average weekly earnings of workers in the mining industry within the state of Ohio. This data point is important for economists and policymakers to assess the economic health and labor market conditions in Ohio's mining sector.
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 Mining Earnings in Ohio metric tracks the average weekly pay for employees in the mining industry, which includes activities such as oil and gas extraction, coal mining, and mineral mining. This data can provide insights into labor costs, worker productivity, and broader economic trends within Ohio's mining industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to monitor the competitiveness and profitability of Ohio's mining industry.
Key Facts
- Ohio is a major producer of coal, natural gas, and industrial minerals.
- Mining accounts for over 50,000 jobs in Ohio.
- Ohio mining earnings have increased by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Mining Earnings in Ohio trend measures the average weekly earnings of workers employed in the mining industry within the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs, worker productivity, and the overall economic health of Ohio's mining sector, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted 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 monitor the competitiveness and profitability of Ohio's mining industry, which informs economic development strategies and labor market policies.
Q: Are there update delays or limitations?
A: The Mining Earnings in Ohio data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Mining Earnings in Ohio (OHEMIN), retrieved from FRED.