Kansas City Fed Services Survey: Wages and benefits: Current (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 wages and benefits (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 14.0 in September 2026, compared to 24.0 in August 2026.
Sample. In the monthly time series plotted above, there are a total of 153 data points. The series covers the span of time extending from January 2014 to September 2026.
History. Here’s a quick look at some simple statistics we computed on the entire sample: the diffusion index reached its maximum of 54.0 in November 2021; it reached its minimum of -23.0 in April 2020; it was equal on average to 24.2.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 29.0000 |
| 2026-08-31 | 24.0000 |
| 2026-09-30 | 14.0000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did wages and benefits increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident 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: Wages and benefits |
| FSR temporal aggregation code | LM01 |
Series in the same data set
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