All Employees: Durable Goods: Electrical Equipment, Appliance, and Component Manufacturing in Illinois
SMU17000003133500001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.90
Year-over-Year Change
-12.55%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures employment in the durable goods manufacturing sector for electrical equipment, appliances, and component production in the state of Illinois. It provides insights into the health and dynamics of this key industry within 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 All Employees: Durable Goods: Electrical Equipment, Appliance, and Component Manufacturing in Illinois series tracks the total number of employees in this manufacturing subsector across the state. It is an important economic indicator used by policymakers, analysts, and businesses to gauge activity and labor market conditions in this industrial segment.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses and establishments.
Historical Context
This employment trend offers insights relevant for evaluating the state's manufacturing competitiveness and guiding economic development strategies.
Key Facts
- Illinois is a major hub for electrical equipment and appliance production.
- This sector accounts for over 50,000 manufacturing jobs in the state.
- Employment in this industry has fluctuated with broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the durable goods manufacturing subsector focused on electrical equipment, appliances, and component production within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This employment data provides valuable insights into the health and dynamics of a key manufacturing industry within Illinois, which is relevant for evaluating the state's economic competitiveness and guiding policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses and establishments.
Q: How is this trend used in economic policy?
A: This employment trend offers insights that can inform state-level economic development strategies and policies targeting the manufacturing sector.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis, with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Durable Goods: Electrical Equipment, Appliance, and Component Manufacturing in Illinois (SMU17000003133500001A), retrieved from FRED.