Average Weekly Hours of Production Employees: Wholesale Trade in Illinois
SMU17000004100000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.60
Year-over-Year Change
-0.26%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Average Weekly Hours of Production Employees: Wholesale Trade in Illinois' trend measures the average number of hours worked per week by production workers in the wholesale trade industry in Illinois. This provides insight into labor market conditions and productivity in the state's wholesale trade sector.
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 indicator tracks the average weekly work hours of production employees in Illinois's wholesale trade industry. It is a key metric for understanding labor utilization and productivity trends within this important economic sector.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to evaluate the health and dynamics of Illinois's wholesale trade industry.
Key Facts
- Illinois is the 5th largest wholesale trade market in the U.S.
- Wholesale trade accounts for over 6% of Illinois's GDP.
- Average weekly hours peaked at 41.9 in January 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in the wholesale trade industry in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and productivity trends within Illinois's wholesale trade sector, which is a key part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the health and dynamics of Illinois's wholesale trade industry, which can inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Wholesale Trade in Illinois (SMU17000004100000007A), retrieved from FRED.