Fifth District Survey of Manufacturing Activity: Average employee workweek: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. Based on a sample of manufacturing firms surveyed by the Fed, the seasonally adjusted diffusion index for the average employee workweek (share of CEOs seeing a recent increase minus share reporting a decrease) stood at -3.0 in May 2022, compared to 15.0 in April 2022.
Sample. There are 343 records overall in the monthly time series shown in the figure above. The series covers the span of time stretching from November 1993 to May 2022.
History. Here's a glimpse of a few simple statistics we computed on the whole sample: the diffusion index recorded a bottom of -39.0 in February 2009; it recorded its maximum of 24.0 in March 2004; it had an average value of 0.8.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 17.0000 |
| 2022-04-30 | 15.0000 |
| 2022-05-31 | -3.00000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did the average employee workweek increase or decrease in the past month? |
| 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 Richmond |
| 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) |
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