Kansas City Fed Services Survey: Hours worked: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Kansas City Fed - Monthly
This series is part of the dataset: Kansas City Fed Services Survey
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about services firms in the Tenth Federal Reserve District, the seasonally adjusted diffusion index for hours worked (share of CEOs seeing a future increase minus share forecasting a decrease) was -2.0 in September 2026, compared to -4.0 in August 2026.
Sample. There are 153 observations in the monthly time series shown in the chart above. The period covered by the series is from January 2014 to September 2026.
History. Here are a few simple statistics computed on the full sample: the diffusion index hit a maximum of 30.0 in June 2021; it reached its lowest level of -29.0 in April 2020; it had a mean of 10.5.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 10.0000 |
| 2026-08-31 | -4.00000 |
| 2026-09-30 | -2.00000 |
Tip. One of the pros of using our web site is that we publish rich metadata. Check them below to better understand the properties of the time series that you use in your research.
Not for investment purposes. Any data disseminated on this web site are not suitable for investment purposes or as a basis for making financial decisions. Users should ask for professional advice and perform their own independent due diligence before making any financial commitments.
Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will employee hours worked increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Seasonally adjusted | Yes |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Kansas City |
| Source type | Central bank |
| Data licence | Reproduction allowed subject to conditions |
| Other information | FS correspondence: Hours worked |
| FSR temporal aggregation code | LM01 |
Series in the same data set
Discover the other time series included in this data set.