All Employees: Management, Scientific, and Technical Consulting Services in Illinois
SMU17000006054160001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.00
Year-over-Year Change
43.70%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the management, scientific, and technical consulting services industry in Illinois. It provides valuable insights into the state's professional services 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
The All Employees: Management, Scientific, and Technical Consulting Services in Illinois metric tracks the total employment levels in this key industry, which provides a range of professional advisory services to organizations. This data point is closely monitored by economists and policymakers to gauge the health and growth of Illinois' knowledge-based economy.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used to analyze labor market conditions and inform economic policies in Illinois.
Key Facts
- Illinois has over 100,000 consulting services employees.
- The consulting industry accounts for 3% of Illinois' total employment.
- This sector has seen steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the management, scientific, and technical consulting services industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data point provides valuable insights into the health and growth of Illinois' knowledge-based professional services sector, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is closely monitored by economists and policymakers to analyze labor market conditions and inform economic policies in Illinois.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with some typical delays in reporting by the statistical agency.
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Citation
U.S. Federal Reserve, All Employees: Management, Scientific, and Technical Consulting Services in Illinois (SMU17000006054160001A), retrieved from FRED.