Average Hourly Earnings of Production Employees: Financial Activities in Illinois
SMU17000005500000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.33
Year-over-Year Change
0.48%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the financial activities sector in Illinois. It provides insights into the compensation levels and changes in this important industry within the state.
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: Financial Activities in Illinois is a key indicator of compensation trends in the financial services industry in the state. It tracks the average hourly wage paid to production workers in this sector, offering valuable data for economic analysis and policy decisions.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to understand labor market dynamics and cost pressures in Illinois's financial sector.
Key Facts
- Illinois is a major hub for the financial services industry.
- Hourly wages in financial activities typically exceed the state average.
- This trend has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the financial activities sector within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into compensation levels and changes in the important financial services industry in Illinois, which is crucial for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and industry analysts to understand labor market dynamics and cost pressures in Illinois's financial sector.
Q: Are there update delays or limitations?
A: The data is subject to the regular publication schedule and limitations of the U.S. Bureau of Labor Statistics surveys.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Financial Activities in Illinois (SMU17000005500000008), retrieved from FRED.