High-Propensity Business Applications: Total for All NAICS in Illinois
BAHBATOTALSAIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,098.00
Year-over-Year Change
19.62%
Date Range
7/1/2004 - 7/1/2025
Summary
The High-Propensity Business Applications: Total for All NAICS in Illinois measures the number of new business applications with a high-propensity to become businesses with payroll in the state of Illinois. This metric is a leading indicator of economic activity and entrepreneurship.
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 tracks the total number of new high-propensity business applications across all North American Industry Classification System (NAICS) sectors in the state of Illinois. It is an early signal of emerging economic trends and business dynamism at the state level.
Methodology
The data is collected and published monthly by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by policymakers, economists, and investors to gain insights into the state's business climate and entrepreneurial activity.
Key Facts
- Illinois has the 5th highest number of high-propensity business applications in the U.S.
- Business applications in Illinois peaked in 2020 during the COVID-19 pandemic.
- The services sector accounts for the largest share of high-propensity applications in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of new business applications in Illinois that have a high-propensity to become businesses with payroll, across all industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is a leading indicator of entrepreneurial activity and economic dynamism in Illinois, providing valuable insights for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is collected and published monthly by the U.S. Census Bureau based on business application filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the business climate and entrepreneurial activity in Illinois, which can inform economic development initiatives and policies.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically within a month of the reference period. There are no major known limitations to the data.
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Citation
U.S. Federal Reserve, High-Propensity Business Applications: Total for All NAICS in Illinois (BAHBATOTALSAIL), retrieved from FRED.