Average Hourly Earnings of All Employees: Financial Activities in Illinois
SMU17000005500000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44.85
Year-over-Year Change
4.89%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Hourly Earnings of All Employees: Financial Activities in Illinois trend measures the average hourly wage for workers in the financial services industry within the state of Illinois. This metric is important for economists and policymakers to understand labor market dynamics and cost of living pressures.
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 series tracks the average hourly wage paid to all employees working in the financial activities sector in the state of Illinois. It is a key indicator of compensation levels and purchasing power for workers in this important industry, which includes banking, insurance, real estate, and other finance-related occupations.
Methodology
The data is collected through establishment surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average hourly earnings are closely monitored by the Federal Reserve and other economic analysts to assess inflationary pressures and make informed policy decisions.
Key Facts
- Illinois is a major U.S. financial hub, home to several Fortune 500 companies.
- Financial activities account for over 6% of total employment in Illinois.
- Hourly earnings in this sector have risen by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage paid to all employees working in the financial activities sector, including banking, insurance, real estate, and other finance-related occupations, within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Trends in average hourly earnings in the financial activities sector are closely watched by economists, policymakers, and analysts to gauge labor market conditions, inflationary pressures, and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through establishment surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other economic institutions monitor this trend to assess wage growth and make informed decisions about monetary policy, such as interest rate adjustments, to support economic stability and full employment.
Q: Are there update delays or limitations?
A: This data is published on a monthly basis with a typical delay of one to two months from the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Financial Activities in Illinois (SMU17000005500000003), retrieved from FRED.