All Employees: Professional and Business Services: Legal Services in Illinois
SMU17000006054110001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55.37
Year-over-Year Change
3.02%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the number of all employees in the legal services industry in Illinois. It is an important indicator of the health and activity of the legal services sector, which is a key component of the broader professional and business services 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 All Employees: Professional and Business Services: Legal Services in Illinois metric tracks the total number of people employed in the legal services industry within the state of Illinois. This data point is used by economists and policymakers to assess the strength and dynamics of the legal services labor market.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in legal services employment are closely monitored as they can provide insights into the overall state of professional services industries and the broader economy.
Key Facts
- Legal services account for over 80,000 jobs in Illinois.
- Employment in legal services has grown by 5% in the past 5 years.
- The legal services industry makes up 8% of Illinois' professional and business services sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the legal services industry within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Trends in legal services employment provide insights into the overall strength and dynamics of the professional services sector and the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly 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 legal services employment to assess the health of professional services industries and the broader economy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Legal Services in Illinois (SMU17000006054110001SA), retrieved from FRED.