Average Fed Srv Survey: Wages: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - FSR - Monthly
This series is part of the dataset: Average Fed Srv Survey (FetchSeries Research)
Download Full Dataset (.xlsx)Latest updates. Based on an average of regional Federal Reserve services surveys, the seasonally adjusted diffusion index for wages stood at 24.0 (share of CEOs seeing a recent increase minus share reporting a decrease) in September 2026, versus 26.9 in August 2026.
Sample. In the monthly series presented in the chart, there are 153 records in total. The period covered by the series stretches from January 2014 to September 2026.
History. Here's a glimpse of a few summary statistics computed on the entire sample: the diffusion index had an average value of 27.1; it reached its highest level of 51.1 in November 2021; it reached its minimum of -22.3 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 26.5000 |
| 2026-08-31 | 26.9400 |
| 2026-09-30 | 24.0200 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did wages and benefits increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Seasonally adjusted | Yes |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | FetchSeries Research calculations on Federal Reserve data |
| Source type | Data research lab |
| Data licence | Creative Commons Attribution 4.0 International (CC BY 4.0) + FetchSeries disclaimers |
| Other information | Arithmetic average across 5 regional Federal Reserve services surveys |
| FSR temporal aggregation code | LM01 |
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