Average Weekly Earnings of Production Employees: Wholesale Trade in Illinois
SMU17000004100000030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,190.04
Year-over-Year Change
51.93%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Earnings of Production Employees: Wholesale Trade in Illinois measures the average weekly earnings of production workers in the wholesale trade industry in Illinois. This metric provides insight into labor costs and economic conditions in 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
This data series tracks the average weekly earnings of production and non-supervisory employees in the wholesale trade industry within the state of Illinois. It is a valuable indicator of wage trends and purchasing power for workers in this part of the economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this metric to assess economic performance and labor market conditions in the wholesale trade sector.
Key Facts
- The data series began in January 1982.
- Illinois is a major hub for wholesale trade in the Midwest.
- Wholesale trade accounts for over 6% of Illinois' GDP.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average weekly earnings of production and non-supervisory employees in the wholesale trade industry within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and economic conditions in the key wholesale trade sector, which is an important part of Illinois' economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to assess economic performance and labor market conditions in the wholesale trade sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Wholesale Trade in Illinois (SMU17000004100000030A), retrieved from FRED.