Average Hourly Earnings of All Employees: Leisure and Hospitality in Illinois
SMU17000007000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.93
Year-over-Year Change
5.79%
Date Range
1/1/2007 - 7/1/2025
Summary
This trend measures the average hourly earnings of all employees in the leisure and hospitality sector in Illinois. It provides insight into wage growth and labor market conditions in this key 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 All Employees: Leisure and Hospitality in Illinois is an economic indicator that tracks the average hourly pay for workers in the leisure and hospitality sector across the state. It is used by economists and policymakers to analyze trends in wages, labor costs, and the overall health of the service industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched for its implications on consumer spending, inflation, and the broader economic outlook.
Key Facts
- Illinois is a major leisure and hospitality hub.
- Wage growth in this sector impacts overall inflation.
- Hourly earnings data lags other economic indicators.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages paid to employees in the leisure and hospitality industry across the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and wage growth in a key service sector, which is crucial for analyzing consumer spending, inflation, and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge the strength of the labor market, consumer demand, and inflationary pressures in the leisure and hospitality industry.
Q: Are there update delays or limitations?
A: This data is subject to revision and may lag other economic indicators due to the survey-based collection process.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Leisure and Hospitality in Illinois (SMU17000007000000003), retrieved from FRED.