Average Hourly Earnings of Production Employees: Wholesale Trade: Merchant Wholesalers, Durable Goods in Ohio
SMU39000004142300008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.82
Year-over-Year Change
49.25%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the wholesale trade industry for durable goods in Ohio. It provides insights into wage trends and labor market conditions within this key 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 Average Hourly Earnings of Production Employees: Wholesale Trade: Merchant Wholesalers, Durable Goods in Ohio is a key economic indicator that tracks changes in wages for production workers in the wholesale durable goods industry across the state. This metric is used by economists and policymakers to assess the strength of the labor market and inflationary pressures.
Methodology
This data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in this metric can inform monetary and fiscal policies related to employment, inflation, and the broader economic outlook.
Key Facts
- Ohio accounts for over 7% of U.S. wholesale trade employment.
- Durable goods make up roughly 60% of Ohio's wholesale trade industry.
- Average hourly earnings in this sector have risen by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the wholesale trade industry for durable goods in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage trends and labor market conditions within a key sector of the Ohio economy, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform monetary and fiscal policies related to employment, inflation, and the broader economic outlook.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
Related Trends
Number of Banks in Ohio
X08ABOH
State Government Tax Collections, Public Utilities - Selective Sales Taxes in Ohio
OHUTILITAX
Average Weekly Hours of All Employees: Leisure and Hospitality in Ohio
SMU39000007000000002A
Industrial Carbon Dioxide Emissions, Residual Fuel for Ohio
EMISSCO2VRFICBOHA
Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Ohio
OHFABRMETNGSP
All Employees: Government: State Government Excluding Education in Ohio
SMU39000009092200001A
Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Wholesale Trade: Merchant Wholesalers, Durable Goods in Ohio (SMU39000004142300008A), retrieved from FRED.