Finance and Insurance Earnings in Illinois
ILEFIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,425,871.00
Year-over-Year Change
12.35%
Date Range
1/1/1998 - 1/1/2025
Summary
The Finance and Insurance Earnings in Illinois series tracks the total earnings of workers in the finance and insurance industry in the state of Illinois. This metric is a key indicator of economic activity and growth in the state's financial sector.
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 data series measures the total payroll earnings of employees working in the finance and insurance industry in Illinois. It provides insights into the economic performance and labor market dynamics of this important industry within the state.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Historical Context
Policymakers and analysts use this data to assess the health and competitiveness of Illinois' finance and insurance sector.
Key Facts
- Illinois is a major financial hub in the Midwest.
- The finance and insurance sector accounts for a significant portion of the state's GDP.
- Finance and insurance earnings have seen steady growth in Illinois over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total earnings of workers employed in the finance and insurance industry within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the economic performance and labor market dynamics of Illinois' finance and insurance sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the health and competitiveness of Illinois' finance and insurance industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Finance and Insurance Earnings in Illinois (ILEFIN), retrieved from FRED.