Average Weekly Hours of Production Employees: Education and Health Services in Illinois
SMU17000006500000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.20
Year-over-Year Change
-3.70%
Date Range
1/1/2001 - 1/1/2024
Summary
The Average Weekly Hours of Production Employees: Education and Health Services in Illinois metric tracks the average number of hours worked per week by production employees in the education and health services sector within the state of Illinois.
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
This statistic is an important economic indicator that provides insights into labor market dynamics and workforce productivity in a key industry cluster. It can help policymakers and analysts assess employment and wage trends, as well as the overall health of the Illinois economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is commonly used by economists, policymakers, and market analysts to monitor economic conditions and inform decision-making.
Key Facts
- Illinois is a major hub for education and healthcare industries.
- The average weekly hours metric helps track productivity and labor utilization.
- Trends in this data can signal changes in hiring, overtime, or economic conditions.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by production employees in the education and health services sector within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This statistic provides important insights into labor market dynamics and workforce productivity in a key industry cluster, which can help inform economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is commonly used by economists, policymakers, and market analysts to monitor economic conditions and inform decision-making.
Q: Are there update delays or limitations?
A: The data is subject to the typical release schedule and potential revisions common to government statistical publications.
Related Trends
Monthly State Retail Sales: Total Retail Sales Excluding Nonstore Retailers in Illinois
MSRSILTOTAL
Average Hourly Earnings of Production Employees: Other Services in Illinois
SMU17000008000000008
Average Weekly Earnings of Production Employees: Wholesale Trade in Illinois
SMU17000004100000030
Average Hourly Earnings of All Employees: Goods Producing in Illinois
SMU17000000600000003
Average Weekly Hours of All Employees: Total Private in Illinois
SMU17000000500000002
Monthly State Retail Sales: General Merchandise Stores in Illinois
MSRSIL452
Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Education and Health Services in Illinois (SMU17000006500000007A), retrieved from FRED.