Fifth District Survey of Non-Manufacturing Activity: Average employee workweek: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Non-Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about nonmanufacturing firms collected by the Federal Reserve Bank of Richmond, the seasonally adjusted diffusion index for the average employee workweek (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 3.0 in May 2022, versus 8.0 in the previous month. The Richmond Fed discontinued this question after the May 2022 survey release.
Sample. There are 138 records overall in the monthly series shown in the figure above. The time span covered by the series extends from December 2010 to May 2022.
History. Here's a snapshot of some descriptive statistics we computed on the full sample: the diffusion index recorded its highest level of 22.0 in July 2018; it recorded a bottom of -46.0 in April 2020; it averaged 6.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 7.00000 |
| 2022-04-30 | 8.00000 |
| 2022-05-31 | 3.00000 |
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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 | Yes |
| 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) |
| Other information | The Richmond Fed discontinued this question after the May 2022 survey release. |
Series in the same data set
Discover the other time series included in this data set.