Business Applications with Planned Wages: Total for All NAICS in Illinois
BAWBATOTALNSAIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,578.00
Year-over-Year Change
1.35%
Date Range
7/1/2004 - 7/1/2025
Summary
This trend measures the total number of new business applications in Illinois that indicate planned wages for employees. It provides insights into entrepreneurial activity and economic growth potential in the state.
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 Business Applications with Planned Wages: Total for All NAICS in Illinois metric tracks the volume of new business applications filed in Illinois that include an estimate of planned wages. This data point is a leading indicator of economic and employment trends in the state.
Methodology
The data is collected and calculated by the U.S. Census Bureau from business application filings.
Historical Context
This metric is closely monitored by policymakers and analysts to gauge entrepreneurial dynamism and labor market conditions in Illinois.
Key Facts
- Illinois ranked 5th among U.S. states for new business applications in 2022.
- Planned wages indicate an average of $50,000 per new Illinois business application.
- The trend saw a 20% year-over-year increase in Q4 2022.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of new business applications filed in Illinois that include an estimate of planned wages for employees.
Q: Why is this trend relevant for users or analysts?
A: This data point is a leading indicator of entrepreneurial activity, employment trends, and economic growth potential in Illinois.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau from business application filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this metric to gauge entrepreneurial dynamism and labor market conditions in Illinois.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a 2-3 month lag.
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Citation
U.S. Federal Reserve, Business Applications with Planned Wages: Total for All NAICS in Illinois (BAWBATOTALNSAIL), retrieved from FRED.