Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Illinois
SMU17000004000000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.10
Year-over-Year Change
-5.97%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by all employees in the trade, transportation, and utilities sector in Illinois. It provides insights into labor market conditions and productivity in this key part of the state'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 average weekly hours trend tracks the number of hours worked per week by employees in Illinois's trade, transportation, and utilities industries. This metric is used by economists and policymakers to assess labor market tightness, worker productivity, and underlying demand for goods and services.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by state and federal officials to understand economic conditions and inform policy decisions.
Key Facts
- Trend data available since 2007.
- Illinois accounts for over 6% of U.S. trade, transportation, and utilities employment.
- Weekly hours peaked at 41.1 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in Illinois's trade, transportation, and utilities sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions, worker productivity, and underlying demand in key Illinois industries.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: State and federal officials closely monitor this trend to understand economic conditions and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Illinois (SMU17000004000000002A), retrieved from FRED.