Mining Wages and Salaries in Illinois
ILWMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
634,908.00
Year-over-Year Change
10.09%
Date Range
1/1/1998 - 1/1/2025
Summary
The Mining Wages and Salaries in Illinois trend measures the average hourly and weekly earnings of workers in the mining industry within the state of Illinois. This data is important for economists and policymakers to understand labor market conditions and productivity in a key sector of the state's economy.
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 Mining Wages and Salaries in Illinois series tracks the average hourly and weekly earnings of employees in the mining industry across the state. This provides insights into compensation levels, labor costs, and workforce trends within a crucial component of Illinois' economic activity.
Methodology
The data is collected through surveys of mining establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This information helps inform policies and business decisions related to the mining industry in Illinois.
Key Facts
- Mining is a major industry in Illinois, accounting for over 20,000 jobs.
- Average weekly earnings in Illinois mining have exceeded $1,500 in recent years.
- Mining wages have typically been higher than the overall state average wage.
FAQs
Q: What does this economic trend measure?
A: The Mining Wages and Salaries in Illinois trend measures the average hourly and weekly earnings of workers in the mining industry within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into compensation levels, labor costs, and workforce trends within a crucial component of Illinois' economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of mining establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This information helps inform policies and business decisions related to the mining industry in Illinois.
Q: Are there update delays or limitations?
A: The Mining Wages and Salaries in Illinois data is published on a regular basis with minimal delays.
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Citation
U.S. Federal Reserve, Mining Wages and Salaries in Illinois (ILWMIN), retrieved from FRED.