Total Wages and Salaries in Ohio
OHWTOT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
398,675,499.00
Year-over-Year Change
16.41%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Total Wages and Salaries in Ohio' series measures the total amount of wages and salaries earned by workers in the state of Ohio. This metric is a key indicator of economic activity and consumer spending power 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 series tracks the total nominal dollar value of wages and salaries paid to employees in Ohio. It is a broad measure of labor income and economic output within the state. Analysts and policymakers use this data to monitor trends in the Ohio economy and labor market.
Methodology
The data is collected through surveys of employers and aggregated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this metric to assess the health of the Ohio economy and make informed decisions about fiscal and monetary policy.
Key Facts
- Ohio's total wages and salaries reached a record high of $333 billion in 2021.
- Wages and salaries account for over 50% of Ohio's gross state product.
- The manufacturing sector is the largest contributor to total wages in Ohio.
FAQs
Q: What does this economic trend measure?
A: The 'Total Wages and Salaries in Ohio' series measures the total amount of wages and salaries earned by workers in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic activity and consumer spending power in Ohio, making it relevant for analysts, policymakers, and anyone interested in the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers and aggregated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the health of the Ohio economy and make informed decisions about fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
Related Trends
Real Median Household Income in Ohio
MEHOINUSOHA672N
All Employees: Administrative and Support Services in Ohio
SMU39000006056100001A
Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Ohio
OHOTHSERVENQGSP
All Employees: Government: State Government Excluding Education in Ohio
SMU39000009092200001A
All Employees: Real Estate and Rental and Leasing in Ohio
SMU39000005553000001A
Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Ohio
OHEDHLTHSOCASSRGSP
Citation
U.S. Federal Reserve, Total Wages and Salaries in Ohio (OHWTOT), retrieved from FRED.