All Employees: Educational Services: Colleges, Universities, and Professional Schools in Illinois
SMU17000006561130001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.90
Year-over-Year Change
-1.09%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the educational services industry, specifically colleges, universities, and professional schools in the state of Illinois. It provides insights into the labor market dynamics and workforce trends in the higher education 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: Educational Services: Colleges, Universities, and Professional Schools in Illinois series tracks the monthly employment levels in this key economic sector. It is used by economists, policymakers, and analysts to understand the employment trends and labor market conditions in the higher education industry within the state of Illinois.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through its monthly establishment survey.
Historical Context
This trend is relevant for understanding the economic health and job market in the education industry, which is an important contributor to the overall state economy.
Key Facts
- Illinois is home to over 200 colleges and universities.
- The educational services industry accounts for nearly 7% of total employment in the state.
- Employment in this sector has grown by 8% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the educational services industry, specifically colleges, universities, and professional schools located in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the labor market dynamics and workforce trends in the higher education sector, which is an important contributor to the overall state economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through its monthly establishment survey.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts use this trend to understand the employment conditions and labor market trends in the education industry, which can inform policy decisions related to education funding, workforce development, and economic growth.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month delay in reporting. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Educational Services: Colleges, Universities, and Professional Schools in Illinois (SMU17000006561130001A), retrieved from FRED.