Average Hourly Earnings of All Employees: Manufacturing in Ohio
SMU39000003000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.75
Year-over-Year Change
1.26%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Manufacturing in Ohio is a key economic indicator that measures the average hourly wage paid to manufacturing workers in the state. It provides insights into labor costs and productivity trends.
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 represents the average hourly wage for all employees in the manufacturing sector across Ohio. It is an important metric for economists and policymakers to gauge inflationary pressures, worker purchasing power, and the overall competitiveness of the state's manufacturing industry.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in Ohio's manufacturing wages are closely watched by the Federal Reserve and state officials for their implications on monetary and fiscal policy decisions.
Key Facts
- Ohio is a major manufacturing hub, accounting for over 15% of the state's GDP.
- Manufacturing wages in Ohio have risen by over 25% in the past decade.
- The state's average manufacturing wage is 7% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average hourly wage paid to manufacturing workers across the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: Tracking Ohio's manufacturing wages is important for understanding labor costs, worker purchasing power, and the overall competitiveness of the state's industrial sector.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in Ohio's manufacturing wages are closely monitored by the Federal Reserve and state officials for their implications on monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Manufacturing in Ohio (SMU39000003000000003), retrieved from FRED.