All Employees: Other Professional, Scientific, and Technical Services in Illinois
SMU17000006054190001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.10
Year-over-Year Change
38.43%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the Other Professional, Scientific, and Technical Services industry in Illinois. It is a key indicator of the strength and growth of this specialized service sector within 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 'All Employees: Other Professional, Scientific, and Technical Services' metric tracks employment levels across a range of high-skilled service industries, including legal, accounting, architectural, engineering, and other professional services. This data provides insight into the overall health and dynamics of Illinois' knowledge-based economy.
Methodology
The data is collected through monthly surveys of businesses and establishments across Illinois.
Historical Context
Policymakers and analysts use this employment trend to assess the competitiveness and productivity of Illinois' professional services industries.
Key Facts
- Illinois has the 5th largest professional services sector in the US.
- This industry accounted for over 300,000 jobs in Illinois as of 2022.
- Employment in professional services has grown by 7.2% in Illinois over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the Other Professional, Scientific, and Technical Services industry across the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This employment data provides insight into the strength and growth of Illinois' knowledge-based economy, which is a key driver of overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and establishments across Illinois.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this employment trend to assess the competitiveness and productivity of Illinois' professional services industries, which inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay from the reference period.
Related Trends
Average Hourly Earnings of All Employees: Other Services in Illinois
SMU17000008000000003A
All Employees: Information in Illinois
ILINFO
Unemployment Level for Illinois
UNEMPLOYIL
Housing Inventory: New Listing Count in Illinois
NEWLISCOUIL
Average Weekly Hours of Production Employees: Retail Trade in Illinois
SMU17000004200000007A
All Employees: Construction: Specialty Trade Contractors in Illinois
SMU17000002023800001
Citation
U.S. Federal Reserve, All Employees: Other Professional, Scientific, and Technical Services in Illinois (SMU17000006054190001A), retrieved from FRED.