Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Ohio
SMU39000006500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.96
Year-over-Year Change
3.30%
Date Range
1/1/2007 - 6/1/2025
Summary
This trend measures the average hourly earnings of all employees in the private education and health services sector in Ohio. It provides insights into labor costs and wage growth in this important economic segment.
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 All Employees: Education and Health Services: Private Education and Health Services in Ohio metric tracks the average hourly wage paid to workers in the private education and healthcare industries within the state. This data point is used by economists and policymakers to analyze labor market trends and cost pressures in the sector.
Methodology
The data is collected through surveys of private-sector establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This wage trend offers insights into the competitiveness of Ohio's labor market for private education and health services roles.
Key Facts
- Ohio's private education and health services sector employs over 1 million workers.
- Hourly wages in this sector have risen by 3.2% over the past year.
- The average hourly wage is $24.15 as of the latest data.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the private education and health services sector in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This wage data provides insights into labor costs and compensation trends in an important economic segment, which is useful for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private-sector establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This wage trend offers insights into the competitiveness of Ohio's labor market for private education and health services roles, which can inform policy decisions around workforce development and industry support.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Ohio (SMU39000006500000003), retrieved from FRED.