Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods: Printing and Related Support Activities in Illinois
SMU17000003232300008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.21
Year-over-Year Change
2.86%
Date Range
1/1/2001 - 12/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the printing and related support activities industry within the non-durable goods manufacturing sector in Illinois. It provides insight into labor costs and productivity in this important industrial segment.
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 Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods: Printing and Related Support Activities in Illinois data series tracks wages for workers directly involved in the manufacturing process in this specific industry and geographic area. It is a key indicator of labor market conditions and inflationary pressures within this niche of the Illinois economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, industry analysts, and investors to gauge the relative health and competitiveness of Illinois' printing and publishing sector.
Key Facts
- Illinois is a major center for printing and publishing in the U.S.
- Wages in this industry have risen by over 20% in the past decade.
- The printing sector accounts for over 30,000 jobs in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to production workers in the printing and related support activities industry within the non-durable goods manufacturing sector in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and productivity in an important Illinois manufacturing segment, which is useful for policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers to gauge the health and competitiveness of Illinois' printing and publishing sector, which has implications for the broader state economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods: Printing and Related Support Activities in Illinois (SMU17000003232300008), retrieved from FRED.