People 25 Years and Over Who Have Completed a Graduate or Professional Degree for Illinois
GCT1503IL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.50
Year-over-Year Change
32.48%
Date Range
1/1/2006 - 1/1/2023
Summary
This trend measures the percentage of adults aged 25 and older in Illinois who have completed a graduate or professional degree. It provides insights into the state's educational attainment and human capital.
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 graduate or professional degree attainment rate is an important indicator of a state's knowledge-based economy and workforce capabilities. It is used by policymakers, businesses, and researchers to understand educational outcomes and make informed decisions.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This metric helps assess Illinois' competitiveness in attracting high-skilled talent and can inform workforce development initiatives.
Key Facts
- Illinois has a graduate or professional degree attainment rate of 14.8% as of the latest data.
- This rate is higher than the national average of 12.4%.
- Graduate degree holders typically earn higher incomes and contribute to innovation and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of adults aged 25 and older in Illinois who have completed a graduate or professional degree, such as a master's, doctorate, or professional degree.
Q: Why is this trend relevant for users or analysts?
A: The graduate or professional degree attainment rate is an important indicator of a state's educational outcomes and workforce capabilities, which are key factors in economic competitiveness and growth.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey, which surveys a sample of the population to provide estimates of various demographic and socioeconomic characteristics.
Q: How is this trend used in economic policy?
A: This trend can inform workforce development initiatives, talent attraction and retention strategies, and policies aimed at improving educational outcomes and supporting a knowledge-based economy.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be a delay of several months before the latest figures are available. The estimates are also subject to sampling error and may not perfectly reflect the true population characteristics.
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Citation
U.S. Federal Reserve, People 25 Years and Over Who Have Completed a Graduate or Professional Degree for Illinois (GCT1503IL), retrieved from FRED.