Nondurable Manufacturing Wages and Salaries in Ohio
OHWNON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,597,243.00
Year-over-Year Change
8.03%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Nondurable Manufacturing Wages and Salaries in Ohio' trend measures the total wages and salaries paid to workers in Ohio's nondurable manufacturing sector. This metric is a key indicator of labor costs and economic activity in the state.
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 data series tracks the total compensation paid to employees in Ohio's nondurable goods manufacturing industries, which include sectors like food processing, textiles, and chemical production. It provides insights into the labor market and production dynamics within this important part of the state's economy.
Methodology
The data is collected through surveys of Ohio businesses and compiled by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers use this trend to assess the competitiveness and health of Ohio's manufacturing base.
Key Facts
- Ohio is the 7th largest manufacturing state by GDP.
- Nondurable goods account for 40% of Ohio's manufacturing output.
- Manufacturing supports over 700,000 jobs in Ohio.
FAQs
Q: What does this economic trend measure?
A: The 'Nondurable Manufacturing Wages and Salaries in Ohio' metric tracks the total compensation paid to workers in Ohio's nondurable goods manufacturing industries.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the labor costs and economic health of a key sector of Ohio's economy, which is important for analysts, businesses, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Ohio businesses and compiled by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to assess the competitiveness and performance of Ohio's manufacturing base, which is crucial for the state's overall economic development.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month reporting lag.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Wages and Salaries in Ohio (OHWNON), retrieved from FRED.