Health Care and Social Assistance Wages and Salaries in Ohio
OHWHEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,234,773.00
Year-over-Year Change
19.87%
Date Range
1/1/1998 - 1/1/2025
Summary
The Health Care and Social Assistance Wages and Salaries in Ohio trend measures employee compensation in the healthcare and social assistance sector within the state. This data provides insight into Ohio's healthcare 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 series tracks the total wages and salaries paid to employees in the health care and social assistance industry in Ohio. It is a key indicator of economic activity and labor demand within this important service sector.
Methodology
The data is collected through the Quarterly Census of Employment and Wages program by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health of Ohio's healthcare industry and its impact on the broader state economy.
Key Facts
- Ohio's health care and social assistance sector employs over 1 million workers.
- Wages and salaries in this sector grew by 4.2% in 2021.
- Healthcare is one of Ohio's largest and fastest-growing industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total wages and salaries paid to employees in the health care and social assistance industry within the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the health and labor dynamics of Ohio's healthcare sector, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Quarterly Census of Employment and Wages program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the healthcare industry's impact on Ohio's broader economic conditions and labor market.
Q: Are there update delays or limitations?
A: This data is typically released with a 1-2 quarter lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Health Care and Social Assistance Wages and Salaries in Ohio (OHWHEA), retrieved from FRED.