Average Fed Srv Survey: Wages: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 unadjusted diffusion index for wages stood at 50.0 (share of CEOs seeing a future increase minus share forecasting a decrease) in September 2026, versus 42.6 in August.
Sample. There are 153 records overall in the monthly time series displayed in the chart above. The span of time covered by the series stretches from January 2014 to September 2026.
History. Have a look at a few descriptive statistics we calculated on the full sample: the diffusion index was equal on average to 42.3; it reached its minimum of 1.1 in April 2020; it reached its maximum of 66.2 in January 2022.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 41.5667 |
| 2026-08-31 | 42.6000 |
| 2026-09-30 | 50.0333 |
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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 |
| Seasonally adjusted | No |
| 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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