Business Leaders Survey: Wages: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - 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 survey data about service firms in the Second Federal Reserve District, the seasonally adjusted diffusion index for wages (share of CEOs seeing a recent increase minus share reporting a decrease) was 28.2 in October 2026, compared to 30.3 in September 2026.
Sample. The monthly time series presented in the figure has 266 records overall. The series covers the span of time going from September 2004 to October 2026.
History. Have a look at a few simple statistics computed on the entire sample: the diffusion index had a mean of 35.8; it hit a maximum of 61.4 in November 2021; it reached a trough of -19.3 in May 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-08-31 | 30.7000 |
| 2026-09-30 | 30.3000 |
| 2026-10-31 | 28.2000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Over the past three months did wages paid 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 | Yes |
| 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 |