Forestry, Fishing, Related Activities and Other Wages and Salaries in Illinois
ILWFOR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
243,472.00
Year-over-Year Change
0.34%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic trend measures wages and salaries in the forestry, fishing, and related activities sector in Illinois. It provides insights into labor market conditions in 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 Forestry, Fishing, Related Activities and Other Wages and Salaries in Illinois series tracks total payroll for workers in the forestry, fishing, and related activities sector within the state. This indicator offers a valuable window into the economic health of these natural resource-based industries.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists and policymakers to monitor employment and compensation trends in Illinois' natural resource industries.
Key Facts
- Illinois is a leading producer of agricultural and forest products.
- Wages in the forestry and fishing sector are typically above the state average.
- This data helps track the economic vitality of rural communities.
FAQs
Q: What does this economic trend measure?
A: This trend measures total wages and salaries paid to workers in the forestry, fishing, and related activities sector within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the economic health and labor market conditions of Illinois' natural resource-based industries, which are important drivers of economic activity in many communities.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to monitor employment and compensation trends in Illinois' forestry, fishing, and related activities sectors, which inform decisions around economic development, workforce planning, and natural resource management.
Q: Are there update delays or limitations?
A: This data is published on a monthly basis, with some potential for delays in reporting due to the survey-based data collection process.
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Citation
U.S. Federal Reserve, Forestry, Fishing, Related Activities and Other Wages and Salaries in Illinois (ILWFOR), retrieved from FRED.