Business Leaders Survey: Employment: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - NY FED - Monthly
This series is part of the dataset: Business Leaders Survey (NY FED)
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about service firms in the Second Federal Reserve District, the seasonally unadjusted diffusion index for employment (share of CEOs seeing a recent increase minus share reporting a decrease) was 0.0 in October 2026, compared to -4.9 in September.
Sample. There are 266 observations overall in the monthly time series displayed in the chart above. The period covered by the series extends from September 2004 to October 2026.
History. Here’s a quick look at some statistics computed on the entire sample: the diffusion index averaged 5.7; it reached its lowest level of -53.5 in May 2020; it reached its maximum of 29.0 in July 2007.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-08-31 | 2.40000 |
| 2026-09-30 | -4.90000 |
| 2026-10-31 | 0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Over the past three months did employment at this company increase or decrease? |
| 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 New York |
| Source type | Central bank |
| Data licence | Free use subject to conditions |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
Series in the same data set
Discover the other time series included in this data set.
Current conditions SA
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Business Leaders Survey: Wages: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly | 266 | 2004-09-30 | 2026-10-31 |
Future conditions SA
| Series Name | Observations | Start Date | End Date |
|---|---|---|---|
| Business Leaders Survey: Wages: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - NY FED - Monthly | 266 | 2004-09-30 | 2026-10-31 |