Business Applications with Planned Wages for Illinois
WBUSAPPWNSAIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
270.00
Year-over-Year Change
-32.50%
Date Range
6/10/2006 - 8/2/2025
Summary
The 'Business Applications with Planned Wages for Illinois' tracks the number of new business applications in Illinois that include plans for hiring employees. This metric provides insight into entrepreneurial activity and economic growth potential in the state.
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 economic indicator monitors applications for new businesses in Illinois that signal the intention to hire workers. It offers policymakers and analysts a forward-looking view of emerging business formations and hiring plans within the state's economy.
Methodology
The data is collected by the U.S. Census Bureau through its Business Formation Statistics program.
Historical Context
Trends in business applications with planned wages are used by economists and policymakers to assess the business climate and near-term hiring outlook in Illinois.
Key Facts
- Illinois ranks 5th among U.S. states for new business applications.
- Business applications with planned wages account for about 30% of total applications in Illinois.
- New business formations can signal future employment growth in the state.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of new business applications in Illinois that include plans for hiring employees. It provides insight into entrepreneurial activity and hiring intentions in the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in business applications with planned wages offer a forward-looking view of emerging business formations and hiring plans, which are important signals for assessing the state's economic growth potential.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through its Business Formation Statistics program.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to evaluate the business climate and near-term hiring outlook in Illinois, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent economic conditions in Illinois.
Related Trends
Real Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Illinois
ILMISCPRORGSP
Average Weekly Earnings of Production Employees: Wholesale Trade in Illinois
SMU17000004100000030A
Other Services (except Public Administration) Earnings in Illinois
ILEOTH
Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Illinois
ILOTHTRANNGSP
Projected Business Formations Within Four Quarters: Total for All NAICS in Illinois
BFPBF4QTOTALSAIL
All Employees: Couriers and Messengers in Illinois
SMU17000004349200001A
Citation
U.S. Federal Reserve, Business Applications with Planned Wages for Illinois (WBUSAPPWNSAIL), retrieved from FRED.