Average Fed Srv Survey: Wages: Future (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 50.0 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, versus 42.6 in August 2026.
Sample. In this monthly series, there are a total of 153 records. The time span covered by the series extends from January 2014 to September 2026.
History. Here are some simple statistics we calculated on the whole sample: the diffusion index reached its highest level of 66.2 in January 2022; it reached a minimum of 1.1 in April 2020; it had a mean of 42.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 41.5667 |
| 2026-08-31 | 42.6000 |
| 2026-09-30 | 50.0333 |
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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 | 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 3 regional Federal Reserve services surveys |
| FSR temporal aggregation code | LM01 |
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