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 firms' responses to the Fifth District Survey of Manufacturing Activity carried out by the Richmond 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.
Sample. There are 345 observations overall in the monthly time series shown in the chart above. The series covers the span of time extending from January 1993 to May 2022.
History. Here’s a quick look at some simple statistics computed on the entire sample: the diffusion index reached its maximum of 24.0 in March 2004; it recorded a bottom of -39.0 in February 2009; it had an average value of 0.8.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 16.0 |
| 2022-04-30 | 15.0 |
| 2022-05-31 | -3.0 |
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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) |
Series in the same data set
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