Administrative and Waste Services Wages and Salaries in Illinois
ILWADM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,869,741.00
Year-over-Year Change
-1.08%
Date Range
1/1/1998 - 1/1/2025
Summary
The Administrative and Waste Services Wages and Salaries in Illinois trend measures changes in compensation for workers in the administrative, support, waste management, and remediation services industries in the state of Illinois.
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 indicator provides insight into labor costs and economic activity in a key service sector, which is important for understanding the overall health of the Illinois economy and informing policy decisions.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers use this metric to assess Illinois' economic performance and competitiveness.
Key Facts
- Illinois' administrative and waste services sector accounts for over 300,000 jobs.
- Wages in this industry grew by 5.2% in Illinois over the past year.
- The COVID-19 pandemic significantly impacted employment in this sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in wages and salaries for workers in administrative, support, waste management, and remediation services industries in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and economic activity in a key service sector, which is crucial for understanding the overall health of the Illinois economy and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess Illinois' economic performance and competitiveness, which informs decisions around economic development, workforce policies, and other initiatives.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Administrative and Waste Services Wages and Salaries in Illinois (ILWADM), retrieved from FRED.