Labor Force Participation Rate for Illinois
LBSSA17 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.40
Year-over-Year Change
-1.08%
Date Range
1/1/1976 - 7/1/2025
Summary
The Labor Force Participation Rate for Illinois measures the percentage of the state's working-age population that is employed or actively seeking work. It is a key indicator of economic activity and labor market conditions.
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 Labor Force Participation Rate represents the total civilian labor force in Illinois divided by the state's working-age population. It provides insight into the strength and utilization of the Illinois workforce, which is crucial for economic analysis and policy decisions.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the health of the Illinois labor market and make informed decisions.
Key Facts
- The Illinois labor force participation rate was 64.7% as of the latest data.
- The rate has declined from its peak of 67.2% in the early 2000s.
- Participation rates tend to be lower for older workers and those with disabilities.
FAQs
Q: What does this economic trend measure?
A: The Labor Force Participation Rate for Illinois measures the percentage of the state's working-age population that is employed or actively seeking work.
Q: Why is this trend relevant for users or analysts?
A: The labor force participation rate is a key indicator of the strength and utilization of the Illinois workforce, which is crucial for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor the Illinois labor force participation rate to assess the health of the state's labor market and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Labor Force Participation Rate for Illinois (LBSSA17), retrieved from FRED.