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. Based on firms' responses to the Fifth District Survey of Manufacturing Activity carried out by the Richmond FED, 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, compared to 15.0 in April 2022.
Sample. The monthly series presented in the graph has 343 records overall. The time span covered by the series is from November 1993 to May 2022.
History. Here are a few summary statistics computed on the whole sample: the diffusion index had a mean of 0.7; it recorded a bottom of -45.0 in January 2009; it hit a maximum of 26.0 in March 2004.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 16.0000 |
| 2022-04-30 | 15.0000 |
| 2022-05-31 | -4.00000 |
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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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