Average Hourly Earnings of Production Employees: Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers in Illinois
SMU17000004142500008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39.03
Year-over-Year Change
76.37%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the wholesale electronic markets and agents and brokers industry in Illinois. It provides insights into wage dynamics in this key sector of 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 Average Hourly Earnings of Production Employees: Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers in Illinois series tracks the average hourly compensation for workers in this specialized wholesale trade industry. This data helps analysts and policymakers understand labor market conditions and cost pressures in this part of the Illinois economy.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform economic policy decisions and business strategies related to the wholesale trade sector in Illinois.
Key Facts
- Illinois is a major hub for wholesale electronic markets and agents/brokers.
- Wages in this industry have risen steadily over the past decade.
- The sector employs over 30,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees working in the wholesale electronic markets and agents and brokers industry in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor costs and wage dynamics within a key part of Illinois' wholesale trade sector, which is important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic policy decisions and business strategies related to the wholesale trade sector in Illinois.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but may have a lag of several weeks or months before the latest figures are available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers in Illinois (SMU17000004142500008A), retrieved from FRED.