Average Hourly Earnings of Production Employees: Other Services in Illinois
SMU17000008000000008 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.27
Year-over-Year Change
10.82%
Date Range
1/1/2001 - 7/1/2025
Summary
The Average Hourly Earnings of Production Employees: Other Services in Illinois tracks changes in hourly wage rates for production workers in the service sector in Illinois. This key economic indicator provides insights into labor market conditions and inflationary 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 measures the average hourly earnings of production and non-supervisory employees in the Other Services sector in Illinois. It is a useful barometer of labor costs and can signal changes in the strength of the regional economy and local wage pressures.
Methodology
The data is collected through monthly surveys of nonfarm business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess Illinois' overall economic health and make informed decisions about monetary and fiscal policies.
Key Facts
- Illinois' Other Services sector accounts for over 10% of the state's total employment.
- Hourly earnings in this sector have grown by an average of 3% annually over the past decade.
- The Other Services industry includes repair and maintenance, personal care, and religious organizations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production and non-supervisory employees in the Other Services sector in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and wage pressures in Illinois' service sector, which is a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of nonfarm business establishments 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 assess Illinois' overall economic health and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag, and it may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Other Services in Illinois (SMU17000008000000008), retrieved from FRED.