Average Hourly Earnings of Production Employees: Education and Health Services: Private Education and Health Services in Illinois
SMU17000006500000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.22
Year-over-Year Change
3.73%
Date Range
1/1/2001 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of production employees in the private education and health services sector in Illinois. It provides valuable insights into labor costs and compensation levels in this important industry.
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: Education and Health Services: Private Education and Health Services in Illinois is a key indicator used by economists and policymakers to track wage growth and labor market conditions in the private education and healthcare sectors within the state of Illinois.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of establishments.
Historical Context
This trend is widely referenced by analysts and policymakers when evaluating the economic health of the education and healthcare industries in Illinois.
Key Facts
- The series began in 2007.
- Illinois has a large private education and healthcare sector.
- Wage trends in this industry can indicate broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the private education and health services sector within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor costs and compensation levels in a key industry, which can inform economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of establishments.
Q: How is this trend used in economic policy?
A: This trend is widely referenced by analysts and policymakers when evaluating the economic health of the education and healthcare industries in Illinois.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, providing timely information on this industry.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Education and Health Services: Private Education and Health Services in Illinois (SMU17000006500000008), retrieved from FRED.