Texas Service Sector Outlook Survey: Wages and benefits: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Dallas FED - Monthly
This series is part of the dataset: Texas Service Sector Outlook Survey (Dallas FED)
Download Full Dataset (.xlsx)Latest updates. Based on a sample of service-sector firms surveyed by the Fed, the seasonally adjusted diffusion index for wages and benefits (share of CEOs seeing a future increase minus share forecasting a decrease) was 47.1 in September 2026, compared to 40.6 in August 2026.
Sample. There are 237 observations in the monthly time series presented in the graph above. The series covers the span of time going from January 2007 to September 2026.
History. Here are a few statistics we calculated on the full sample: the diffusion index recorded its maximum of 58.5 in October 2021; it hit a minimum of -3.1 in March 2020; it had a mean value of 37.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 42.7000 |
| 2026-08-31 | 40.6000 |
| 2026-09-30 | 47.1000 |
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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 |
| Deflation method | Not applicable |
| Seasonally adjusted | Yes |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Dallas |
| 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) |
Series in the same data set
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