Wholesale Trade Wages and Salaries in Illinois
ILWWHO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,186,260.00
Year-over-Year Change
7.57%
Date Range
1/1/1998 - 1/1/2025
Summary
The Wholesale Trade Wages and Salaries in Illinois trend measures changes in total wages and salaries paid to employees in the wholesale trade industry within the state of Illinois. This data provides insights into the economic conditions and labor market dynamics of this key 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
The Wholesale Trade Wages and Salaries in Illinois metric tracks the total compensation paid to workers in the wholesale distribution of goods, including durable and nondurable commodities. This indicator is used by economists and policymakers to assess the overall health and competitiveness of Illinois' wholesale trade industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
Wholesale trade plays a vital role in the broader economy, serving as a crucial link between producers and consumers. Monitoring wage trends in this sector can inform decisions around economic and workforce development policies.
Key Facts
- Illinois is the 5th largest wholesale trade market in the U.S.
- Wholesale trade employs over 300,000 workers in Illinois.
- Wages in the Illinois wholesale sector have risen 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Wholesale Trade Wages and Salaries in Illinois trend measures changes in the total compensation paid to employees in the wholesale distribution industry within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the economic health and labor market dynamics of Illinois' wholesale trade sector, which is a critical component of the state's broader economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Monitoring wage trends in the wholesale trade sector can inform decisions around economic and workforce development policies at the state and local level.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Wholesale Trade Wages and Salaries in Illinois (ILWWHO), retrieved from FRED.