Average Weekly Earnings of All Employees: Leisure and Hospitality in Illinois
SMU17000007000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
593.46
Year-over-Year Change
9.77%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Weekly Earnings of All Employees: Leisure and Hospitality in Illinois' measures the average weekly earnings for all employees in the leisure and hospitality sector in Illinois. This data point is crucial for understanding the economic health and trends within the state's service industry.
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 series represents the average weekly earnings for all employees, including both full-time and part-time workers, in the leisure and hospitality sector in the state of Illinois. The data is used by economists, policymakers, and industry analysts to assess labor market conditions and cost-of-living trends within the service industry in the state.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is valuable for monitoring the state's tourism and service-based economy, as well as informing policies and decisions related to minimum wage, cost-of-living adjustments, and workforce development.
Key Facts
- The series has been tracked since 2007.
- Illinois' leisure and hospitality sector employs over 600,000 workers.
- The average weekly earnings in this sector are typically lower than the overall state average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees, including both full-time and part-time workers, in the leisure and hospitality sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the economic health and trends within Illinois' service industry, which is a significant part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic indicator is valuable for monitoring the state's tourism and service-based economy, as well as informing policies and decisions related to minimum wage, cost-of-living adjustments, and workforce development.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Illinois (SMU17000007000000011), retrieved from FRED.