Nondurable Manufacturing Earnings in Illinois
ILENON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33,119,984.00
Year-over-Year Change
4.50%
Date Range
1/1/1998 - 1/1/2025
Summary
The Nondurable Manufacturing Earnings in Illinois trend measures the average weekly earnings of production and nonsupervisory employees in the nondurable manufacturing sector of the Illinois economy. This metric provides insight into the economic health and labor market conditions within this important 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
The Nondurable Manufacturing Earnings in Illinois series tracks the average weekly pay of workers in industries such as food processing, textiles, and chemicals production. This data is a key indicator of labor market dynamics and purchasing power in the state's manufacturing base.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to gauge the vitality of Illinois' manufacturing sector and its broader economic implications.
Key Facts
- Illinois is a leading U.S. state for nondurable manufacturing.
- Earnings in this sector have risen by over 20% in the past decade.
- Nondurable manufacturing accounts for over 10% of Illinois' GDP.
FAQs
Q: What does this economic trend measure?
A: The Nondurable Manufacturing Earnings in Illinois trend measures the average weekly earnings of production and nonsupervisory employees in the nondurable manufacturing sector of the Illinois economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic health and labor market conditions within Illinois' important nondurable manufacturing industries, which are a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge the vitality of Illinois' manufacturing sector and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, providing timely insight into current economic conditions.
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Citation
U.S. Federal Reserve, Nondurable Manufacturing Earnings in Illinois (ILENON), retrieved from FRED.