Average Fed Srv Survey: Wages: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 unadjusted diffusion index for wages was 22.2 (share of CEOs seeing a recent increase minus share reporting a decrease) in September 2026, compared to 25.8 in August.
Sample. There are 153 observations overall in the monthly time series shown in the plot above. The series covers the time period extending from January 2014 to September 2026.
History. Have a look at a few descriptive statistics we calculated on the entire sample: the diffusion index reached a maximum of 47.7 in January 2022; it registered a minimum of -21.0 in April 2020; it had a mean of 25.2.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 23.9000 |
| 2026-08-31 | 25.8000 |
| 2026-09-30 | 22.2000 |
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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 | No |
| 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 4 regional Federal Reserve services surveys |
| FSR temporal aggregation code | LM01 |
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