Average Fed Srv Survey: Wages: Future (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 44.5 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, compared to 43.7 in August 2026.
Sample. There are 153 records in the monthly series displayed in the graph above. The series covers the time period stretching from January 2014 to September 2026.
History. Here’s a quick look at a few summary statistics computed on the entire sample: the diffusion index reached a trough of -2.0 in April 2020; it attained a maximum of 62.5 in March 2022; it was equal on average to 42.5.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 43.4750 |
| 2026-08-31 | 43.7000 |
| 2026-09-30 | 44.5500 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will wages and benefits increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading 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 4 regional Federal Reserve services surveys |
| FSR temporal aggregation code | LM01 |
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