Administrative and Waste Services Wages and Salaries in Ohio
OHWADM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,015,305.00
Year-over-Year Change
1.82%
Date Range
1/1/1998 - 1/1/2025
Summary
This series tracks wages and salaries in the administrative and waste services industry in Ohio. It provides insights into labor costs and economic conditions in a key service 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 Administrative and Waste Services Wages and Salaries in Ohio data series measures the total compensation paid to workers in industries such as administrative support, facilities management, and waste collection and remediation. It reflects trends in labor costs and productivity within a critical part of the state's service economy.
Methodology
The data is collected through surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator is used by policymakers, economists, and businesses to assess economic performance and guide decisions.
Key Facts
- Ohio's administrative and waste services industry employs over 300,000 workers.
- Wages in this sector have risen by 20% over the past decade.
- The industry accounts for 6% of Ohio's total economic output.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total wages and salaries paid to workers in Ohio's administrative and waste services industries, which includes businesses providing administrative support, facilities management, and waste collection and remediation services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into labor costs and productivity in a key service sector, which is useful for policymakers, businesses, and economists analyzing Ohio's economic performance and conditions.
Q: How is this data collected or calculated?
A: The data is collected through 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 data to assess the health of Ohio's service economy and guide decisions related to economic development, workforce planning, and cost management.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Administrative and Waste Services Wages and Salaries in Ohio (OHWADM), retrieved from FRED.