All Employees: Durable Goods: Machinery Manufacturing in Illinois
SMU17000003133300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.70
Year-over-Year Change
-16.52%
Date Range
1/1/1990 - 1/1/2024
Summary
The All Employees: Durable Goods: Machinery Manufacturing in Illinois trend measures the number of people employed in the machinery manufacturing industry within the state of Illinois. This metric is important for analyzing the health and productivity of the state's manufacturing 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 series tracks the total number of workers employed in durable goods machinery manufacturing in Illinois. It provides insight into the scale and dynamics of this key component of the state's industrial base, which has significant implications for the broader economy.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the competitiveness and outlook for Illinois' manufacturing industry.
Key Facts
- Illinois is a major center for machinery manufacturing in the U.S.
- Machinery manufacturing accounts for over 10% of Illinois' total industrial employment.
- Employment in this sector has grown by 8% in Illinois over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the machinery manufacturing industry within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and health of a key component of Illinois' manufacturing base, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to assess the competitiveness and outlook for Illinois' manufacturing industry, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Durable Goods: Machinery Manufacturing in Illinois (SMU17000003133300001A), retrieved from FRED.