Average Hourly Earnings of Production Employees: Manufacturing in Illinois
SMU17000003000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.53
Year-over-Year Change
6.95%
Date Range
1/1/2001 - 7/1/2025
Summary
The Average Hourly Earnings of Production Employees: Manufacturing in Illinois is an important economic indicator that measures the average hourly wages of manufacturing workers in the state, providing insights into labor market conditions and trends.
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 series tracks the average hourly earnings of production and nonsupervisory employees in the manufacturing sector within the state of Illinois. It is used by economists and policymakers to gauge the strength of the state's labor market and the overall health of the manufacturing industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, investors, and policymakers to assess the economic climate and inform decisions related to monetary policy, workforce development, and industrial strategies.
Key Facts
- Illinois manufacturing employment accounts for over 12% of the state's total nonfarm workforce.
- Manufacturing wages in Illinois are typically higher than the national average.
- The trend has shown steady growth in recent years, indicating a strong labor market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and nonsupervisory employees in the manufacturing sector within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the strength of the labor market and the overall health of the manufacturing industry in Illinois, which is an important sector for the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, investors, and policymakers to assess the economic climate and inform decisions related to monetary policy, workforce development, and industrial strategies.
Q: Are there update delays or limitations?
A: The data is updated monthly, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing in Illinois (SMU17000003000000008), retrieved from FRED.