Kansas City Fed Services Survey: Number of employees: 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 number of employees (share of CEOs seeing a future increase minus share forecasting a decrease) stood at 4.0 in September 2026, compared to -5.0 in the previous month.
Sample. There are 153 data points overall in the monthly time series presented in the graph above. The span of time covered by the series extends from January 2014 to September 2026.
History. Here's a glimpse of a few summary statistics computed on the whole sample: the diffusion index had a mean value of 15.1; it hit a minimum of -27.0 in March 2020; it reached its highest level of 43.0 in March 2022.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 14.0000 |
| 2026-08-31 | -5.00000 |
| 2026-09-30 | 4.00000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will the number of employees 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: Number of employees |
| FSR temporal aggregation code | LM01 |
Series in the same data set
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