Average Weekly Earnings of All Employees: Manufacturing in Illinois
SMU17000003000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,317.81
Year-over-Year Change
8.59%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Manufacturing in Illinois measure the average weekly wages for manufacturing workers in the state. This key economic indicator provides insights into labor costs and productivity 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 tracks the average weekly earnings of all employees in the manufacturing sector across Illinois. It is a valuable metric for analyzing economic conditions, employment, and labor market dynamics within the state's manufacturing industry.
Methodology
The data is collected through surveys of business establishments and calculated as the total weekly wages divided by total employment.
Historical Context
This trend is used by economists, policymakers, and businesses to monitor the competitiveness and health of Illinois' manufacturing sector.
Key Facts
- Illinois is a major manufacturing hub, contributing over $100 billion to the state's GDP.
- Manufacturing accounts for 12% of Illinois' total employment.
- The average weekly earnings in Illinois manufacturing have increased by 3.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the manufacturing sector across the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs, productivity, and the overall health of Illinois' manufacturing industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments and calculated as the total weekly wages divided by total employment.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the competitiveness and labor market dynamics within Illinois' manufacturing sector, which informs policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of about one month between the reference period and the publication date.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Manufacturing in Illinois (SMU17000003000000011), retrieved from FRED.