Average Weekly Earnings of All Employees: Education and Health Services in Ohio
SMU39000006500000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,048.98
Year-over-Year Change
52.11%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Earnings of All Employees: Education and Health Services in Ohio measures the average weekly wages for workers in the education and health services sector in the state of Ohio. This metric provides insight into economic conditions and labor market trends in this key industry.
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 economic indicator tracks the average weekly earnings for all employees, both full-time and part-time, in the education and health services sector across the state of Ohio. It is a useful gauge of wage growth and cost-of-living changes in this important service-providing industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to assess the financial health and employment dynamics within Ohio's education and healthcare sectors.
Key Facts
- Ohio's education and health services sector employs over 1.2 million workers.
- Average weekly earnings in this sector have risen by over 25% in the past decade.
- The education and health services industry accounts for nearly 20% of Ohio's total employment.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average weekly earnings for employees in the education and health services sector across the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage growth and cost-of-living changes within a key service-providing industry in Ohio, which is important for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the financial health and employment dynamics within Ohio's education and healthcare sectors.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month lag between the reference period and release date.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Education and Health Services in Ohio (SMU39000006500000011A), retrieved from FRED.