Average Weekly Hours of Production Employees: Retail Trade: Food and Beverage Stores in Illinois
SMU17000004244500007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.70
Year-over-Year Change
-4.97%
Date Range
1/1/2001 - 1/1/2024
Summary
This trend measures the average weekly hours worked by production employees in the food and beverage store retail industry in Illinois. It provides insight into labor utilization and economic activity in this key 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
The Average Weekly Hours of Production Employees: Retail Trade: Food and Beverage Stores in Illinois is a metric that tracks the average number of hours worked per week by production employees, such as cashiers and stockers, in the food and beverage retail industry within the state of Illinois. This data point is a valuable indicator of labor market conditions and can inform economic analysis and policy decisions.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and industry analysts to monitor labor market conditions and consumer spending patterns in the retail food and beverage sector.
Key Facts
- The series began in 2003.
- Average weekly hours peaked at 33.6 in July 2020.
- The lowest point was 30.6 hours in April 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by production employees in the food and beverage store retail industry in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data point is a valuable indicator of labor market conditions and can inform economic analysis and policy decisions related to the retail food and beverage sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to monitor labor market conditions and consumer spending patterns in the retail food and beverage sector.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and survey methodologies of the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Retail Trade: Food and Beverage Stores in Illinois (SMU17000004244500007A), retrieved from FRED.