Texas Manufacturing Outlook Survey: Wages and benefits: Current (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Dallas FED - Monthly
This series is part of the dataset: Texas Manufacturing Outlook Survey (Dallas FED)
Download Full Dataset (.xlsx)Latest updates. Based on firms' responses to the Texas Manufacturing Outlook Survey carried out by the Dallas FED, the seasonally adjusted diffusion index for wages and benefits (share of CEOs seeing a recent increase minus share reporting a decrease) stood at 14.2 in October 2025, versus 15.9 in September 2025.
Sample. There are 257 data points in the monthly time series presented in the figure above. The series covers the span of time stretching from June 2004 to October 2025.
History. Here's a snapshot of some statistics calculated on the full sample: the diffusion index recorded its highest level of 55.0 in March 2022; it hit a trough of -9.2 in March 2009; it was equal on average to 21.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-08-31 | 15.4 |
| 2025-09-30 | 15.9 |
| 2025-10-31 | 14.2 |
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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 |
| Deflation method | Not applicable |
| Seasonally adjusted | Yes |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Dallas |
| 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) |