All Employees: Business Support Services in Illinois
SMU17000006056140001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.20
Year-over-Year Change
-28.09%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the business support services industry in Illinois. It is an important indicator for understanding the strength and growth of 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: Business Support Services in Illinois series tracks the total employment in firms that provide a variety of administrative, clerical, and support services to businesses and organizations within the state. This data is a key metric for analyzing the health and competitiveness of Illinois' professional and business services industries.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this employment trend to assess the broader economic conditions and competitiveness of Illinois' services sector.
Key Facts
- Illinois has the 5th largest business support services industry in the U.S.
- Employment in this sector grew by 8.2% in Illinois over the past 5 years.
- Business support services account for over 250,000 jobs in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the business support services industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the strength and growth of Illinois' professional services sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this employment data to assess the overall competitiveness and health of Illinois' services-based industries, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Business Support Services in Illinois (SMU17000006056140001A), retrieved from FRED.