Fifth District Survey of Non-Manufacturing Activity: Average employee workweek: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Non-Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. According to survey data about nonmanufacturing firms collected by the Federal Reserve Bank of Richmond, the seasonally unadjusted diffusion index for the average employee workweek (share of CEOs seeing a recent increase minus share reporting a decrease) was 5.0 in May 2022, compared to 9.0 in April. The Richmond Fed discontinued this question after the May 2022 survey release.
Sample. This monthly series has 138 data points. The period covered by the series extends from December 2010 to May 2022.
History. Here's a peek at a few summary statistics we calculated on the whole sample: the diffusion index had a mean of 6.2; it reached a trough of -41.0 in April 2020; it recorded a maximum of 26.0 in April 2017.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 8.00000 |
| 2022-04-30 | 9.00000 |
| 2022-05-31 | 5.00000 |
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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 | No |
| 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) |
| Other information | The Richmond Fed discontinued this question after the May 2022 survey release. |
Series in the same data set
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