Fifth District Survey of Manufacturing Activity: Average employee workweek: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about manufacturers collected by the Federal Reserve Bank of Richmond, the seasonally unadjusted diffusion index for the average employee workweek (share of CEOs seeing a recent increase minus share reporting a decrease) was -4.0 in May 2022, versus 15.0 in the previous month.
Sample. This monthly time series has a total of 259 data points. The span of time covered by the series is from January 1993 to May 2022.
History. Here’s a quick look at some descriptive statistics calculated on the entire sample: the diffusion index had an average value of 1.4; it peaked at 26.0 in March 2004; it reached its lowest level of -41.0 in March 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 16.0 |
| 2022-04-30 | 15.0 |
| 2022-05-31 | -4.0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did the average employee workweek increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Deflation method | Not applicable |
| Seasonally adjusted | No |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Richmond |
| Source type | Central bank |
| Data licence | Not copyrightable under U.S. law |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
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