All Employees: Professional and Business Services: Other Professional, Scientific, and Technical Services in Illinois
SMU17000006054190001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.00
Year-over-Year Change
-0.80%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the number of employees in the 'Other Professional, Scientific, and Technical Services' industry within the Professional and Business Services sector in Illinois. It provides insight into the strength and growth of this specialized service-based segment 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 'Other Professional, Scientific, and Technical Services' industry encompasses a diverse range of professional, scientific, and technical activities not classified elsewhere, such as legal services, accounting, architecture, engineering, and specialized design. This metric is a key indicator of the vitality and composition of Illinois' knowledge-based economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists analyze this trend to assess the competitiveness and dynamism of Illinois' professional services industry.
Key Facts
- Illinois' 'Other Professional, Scientific, and Technical Services' industry employs over 260,000 workers.
- This sector has seen steady job growth of around 2% annually in Illinois over the past decade.
- Professional services account for over 10% of total employment in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of employees in the 'Other Professional, Scientific, and Technical Services' industry within the Professional and Business Services sector in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength and growth of this specialized service-based segment of Illinois' economy, which is a key indicator of the state's competitiveness and dynamism.
Q: How is this data collected or calculated?
A: The data is collected through 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 analyze this trend to assess the competitiveness and vitality of Illinois' professional services industry.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Other Professional, Scientific, and Technical Services in Illinois (SMU17000006054190001), retrieved from FRED.