Average Hourly Earnings of Production Employees: Retail Trade: Food and Beverage Retailers in Illinois
SMU17000004244500008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.78
Year-over-Year Change
1.90%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the food and beverage retail sector in Illinois. It provides valuable insights into the labor market and consumer spending dynamics in this key industry.
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: Retail Trade: Food and Beverage Retailers in Illinois series tracks the average hourly wage paid to production workers in the retail food and beverage industry across the state. This metric is used by economists and policymakers to monitor labor cost trends and assess the economic health of the sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by industry analysts and policymakers to gauge consumer spending patterns and the broader economic conditions in Illinois.
Key Facts
- Illinois is a major food and beverage retail hub.
- Earnings in this sector have risen steadily over the past decade.
- The trend is an important indicator of consumer purchasing power.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the food and beverage retail sector in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into labor market conditions and consumer spending patterns in a key industry, making it relevant for economists, policymakers, and market analysts.
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: This trend is closely monitored by policymakers and industry analysts to gauge the economic health of the food and beverage retail sector and consumer spending dynamics in Illinois.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a delay of several weeks before the latest figures are available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Retail Trade: Food and Beverage Retailers in Illinois (SMU17000004244500008), retrieved from FRED.