Kansas City Fed Services Survey: Wages and benefits: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 unadjusted diffusion index for wages and benefits (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 13.0 in September 2026, versus 24.0 in the previous month.
Sample. In this monthly time series, there are a total of 153 records. The series covers the time period extending from January 2014 to September 2026.
History. Take a look at some descriptive statistics we calculated on the full sample: the diffusion index had a mean value of 24.3; it reached its highest level of 52.0 in January 2022; it reached a trough of -22.0 in April 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 27.0000 |
| 2026-08-31 | 24.0000 |
| 2026-09-30 | 13.0000 |
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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 | No |
| 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 |
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