Average Hourly Earnings of Production Employees: Retail Trade in Illinois
SMU17000004200000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.44
Year-over-Year Change
3.76%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the retail trade industry in Illinois. It is an important indicator of labor market conditions and consumer purchasing power in the state.
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: Retail Trade in Illinois measures the average hourly wage paid to production workers in the retail sector across the state. This metric provides insight into the compensation levels and purchasing power of a key segment of the Illinois workforce.
Methodology
This data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average hourly earnings are closely watched by policymakers, economists, and market analysts to gauge the strength of the Illinois economy.
Key Facts
- Illinois retail production workers earn an average of $17.24 per hour.
- Hourly earnings in Illinois retail have increased by 3.2% over the past year.
- Retail trade accounts for over 1 million jobs in the Illinois economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to production employees in the retail trade industry across the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Tracking changes in average hourly earnings for retail workers provides insight into labor market conditions and consumer purchasing power in Illinois.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average hourly earnings are closely monitored by policymakers, economists, and market analysts to gauge the overall health of the Illinois economy.
Q: Are there update delays or limitations?
A: The data is released with a one-month lag and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Retail Trade in Illinois (SMU17000004200000008), retrieved from FRED.