Average Weekly Earnings of Production Employees: Non-Durable Goods: Food Manufacturing in Illinois
SMU17000003231100030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
865.96
Year-over-Year Change
30.49%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the non-durable goods, food manufacturing industry in Illinois. It is a key indicator of labor market conditions and economic activity in this important industrial 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 Average Weekly Earnings of Production Employees: Non-Durable Goods: Food Manufacturing in Illinois series tracks the average weekly compensation for workers directly involved in production activities at food manufacturing facilities located in the state of Illinois. This metric provides insights into wage growth, productivity, and cost pressures within a core component of the state's manufacturing base.
Methodology
The data is collected through monthly surveys of a sample of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of Illinois' food manufacturing sector.
Key Facts
- Illinois is a major food processing hub in the U.S.
- Food manufacturing accounts for over 10% of the state's total manufacturing output.
- Wages in this sector have grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of production employees in the non-durable goods, food manufacturing industry located in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage growth, productivity, and cost pressures within a core component of Illinois' manufacturing base, which is closely monitored by policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of a sample of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Illinois' food manufacturing sector, which is an important driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
Related Trends
All Employees: Food Services and Drinking Places in Illinois
SMU17000007072200001A
90% Confidence Interval Upper Bound of Estimate of Percent of Related Children Age 5-17 in Families in Poverty for Illinois
PPCIUB5T17IL17000A156NCEN
Average Weekly Hours of Production Employees: Non-Durable Goods: Food Manufacturing in Illinois
SMU17000003231100007A
State Government Tax Collections, Amusements Licenses in Illinois
ILAMSLICTAX
High-Propensity Business Applications: Total for All NAICS in Illinois
BAHBATOTALSAIL
Business Applications from Corporations for Illinois
CBUSAPPWNSAILYY
Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Non-Durable Goods: Food Manufacturing in Illinois (SMU17000003231100030A), retrieved from FRED.