Average Hourly Earnings of Production Employees: Education and Health Services: Health Care and Social Assistance in Ohio
SMU39000006562000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.90
Year-over-Year Change
1.86%
Date Range
1/1/2001 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the health care and social assistance sector in Ohio. It provides insight into labor costs and wage trends in a 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
The Average Hourly Earnings of Production Employees: Education and Health Services: Health Care and Social Assistance in Ohio metric tracks changes in compensation for workers in this important service sector. It is used by economists and policymakers to monitor labor market conditions and the overall state of the state's economy.
Methodology
The data is collected through a monthly survey of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend offers valuable context for assessing the health of Ohio's health care industry and labor market.
Key Facts
- Ohio's health care and social assistance sector employs over 900,000 workers.
- Wages in this industry have risen by over 20% in the past decade.
- Health care is one of Ohio's largest and fastest-growing economic sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the health care and social assistance sector in Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor costs and wage dynamics in a crucial industry for Ohio's economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to monitor labor market conditions and the overall state of Ohio's health care industry.
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 Production Employees: Education and Health Services: Health Care and Social Assistance in Ohio (SMU39000006562000008), retrieved from FRED.