Average Fed Srv Survey: Hours worked / average workweek: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - 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 adjusted diffusion index for hours worked / average workweek was 2.3 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, compared to 0.9 in the previous month.
Sample. The monthly time series displayed in the plot has a total of 153 records. The time period covered by the series stretches from January 2014 to September 2026.
History. Here's a glimpse of a few summary statistics we calculated on the entire sample: the diffusion index recorded a maximum of 22.5 in April 2021; it recorded a minimum of -14.6 in March 2020; it averaged 8.6.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 7.10000 |
| 2026-08-31 | 0.850000 |
| 2026-09-30 | 2.30000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will hours worked or the average employee workweek 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 | Yes |
| 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 |
Series in the same data set
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