Average Hourly Earnings of All Employees: Private Service Providing in Illinois
Annual
SMU17000000800000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.07
Year-over-Year Change
38.31%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual series measures the annual average of nonfarm employment in the United States. This key economic indicator provides insights into labor market trends and the overall health of the U.S. economy.
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 Annual series reflects the average level of nonfarm payroll employment throughout the year. It is a widely watched measure of economic activity and a crucial input for policymakers and analysts in understanding the country's employment landscape.
Methodology
The data is collected through a monthly survey of businesses and government agencies by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used to inform economic policy decisions and market analysis.
Key Facts
- The U.S. had over 150 million nonfarm jobs in 2022.
- The Annual series has been published since 1939.
- Employment is a crucial factor in the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the average level of nonfarm payroll employment in the United States over the course of a calendar year.
Q: Why is this trend relevant for users or analysts?
A: This employment trend is a key indicator of the overall health of the U.S. economy and is closely watched by policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses and government agencies by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual employment trend is a crucial input for the Federal Reserve and other policymakers in their decisions on monetary policy and economic management.
Q: Are there update delays or limitations?
A: The Annual series is published with a short delay, typically in the first few months of the following year.
Related Trends
Gross Domestic Product: Food Services and Drinking Places (722) in Illinois
ILFOODDPNGSP
All Employees: Durable Goods: Fabricated Metal Product Manufacturing in Illinois
SMU17000003133200001A
All Employees: Government: State Government in Illinois
SMU17000009092000001
Real Gross Domestic Product: Private Industries in Illinois
ILPIRGSP
All Employees: Financial Activities: Insurance Carriers and Related Activities in Illinois
SMU17000005552400001
Average Hourly Earnings of All Employees: Leisure and Hospitality in Illinois
SMU17000007000000003
Citation
U.S. Federal Reserve, Annual (SMU17000000800000003A), retrieved from FRED.