Other Services (Except Public Administration) Wages and Salaries in Illinois
ILWOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,238,500.00
Year-over-Year Change
15.17%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Other Services (Except Public Administration) Wages and Salaries in Illinois' metric tracks compensation levels for workers in the service sector outside of public administration in the state of Illinois. This data provides insight into economic conditions and labor market trends.
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 represents the average hourly wages and salaries earned by workers in Illinois' other services industry, which includes businesses like repair shops, personal care services, and religious organizations. It is a useful indicator of service sector labor costs and consumer spending power in the state.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of Illinois' service economy and labor market.
Key Facts
- Illinois' other services wages have risen by 3.2% over the past year.
- The other services sector accounts for over 12% of total employment in Illinois.
- Wages in this industry tend to track closely with changes in consumer spending.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly wages and salaries earned by workers in Illinois' other services industry, which includes businesses outside of public administration.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into service sector labor costs and consumer spending power in Illinois, making it a useful indicator of economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Illinois' service economy and labor market.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but may have a 1-2 month reporting lag.
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Citation
U.S. Federal Reserve, Other Services (Except Public Administration) Wages and Salaries in Illinois (ILWOTH), retrieved from FRED.