Other Labor Income in Ohio
OHOOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86,330.40
Year-over-Year Change
16.38%
Date Range
1/1/1948 - 1/1/2025
Summary
The 'Other Labor Income in Ohio' trend measures supplementary forms of compensation for workers in the state, providing insight into the total labor market and economic conditions.
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 economic indicator tracks additional labor-related income sources beyond standard wages and salaries, such as bonuses, tips, and employer contributions to health and retirement plans. It offers a more comprehensive view of worker earnings in Ohio.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Monitoring changes in other labor income can inform policy decisions and help analyze employment dynamics in the state.
Key Facts
- Other labor income makes up around 20% of total employee compensation in Ohio.
- This metric has grown by 3.5% annually over the past decade in the state.
- Service industries account for the largest share of other labor income in Ohio.
FAQs
Q: What does this economic trend measure?
A: The 'Other Labor Income in Ohio' indicator tracks supplementary forms of compensation for workers in the state, beyond just wages and salaries.
Q: Why is this trend relevant for users or analysts?
A: Monitoring changes in other labor income provides a more comprehensive view of worker earnings and can inform policy decisions and analysis of employment dynamics in Ohio.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Trends in other labor income are used by policymakers, economists, and market analysts to assess employment conditions and inform economic policy decisions in Ohio.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Other Labor Income in Ohio (OHOOTH), retrieved from FRED.