All Employees: Health Care: Nursing and Residential Care Facilities in Illinois
SMU17000006562300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.40
Year-over-Year Change
-1.47%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the nursing and residential care facilities industry in Illinois. It provides insight into the labor market and economic activity within the healthcare 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: Health Care: Nursing and Residential Care Facilities in Illinois metric tracks the total employment levels in this key component of the state's healthcare system. It is an important indicator of workforce trends and the overall strength of the long-term care industry.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is closely monitored by policymakers, economists, and industry analysts to assess the healthcare labor market and economic conditions.
Key Facts
- Illinois has over 1,200 nursing and residential care facilities.
- Healthcare is the largest private-sector employer in the state.
- Nursing home jobs account for over 200,000 workers in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in nursing and residential care facilities across the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the healthcare labor market and economic activity within the long-term care industry in Illinois.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this employment trend to assess the strength of the healthcare sector and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Health Care: Nursing and Residential Care Facilities in Illinois (SMU17000006562300001A), retrieved from FRED.