Current Wages and Benefit Costs; Diffusion Index for Federal Reserve District 3: Philadelphia
This dataset tracks current wages and benefit costs; diffusion index for federal reserve district 3: philadelphia over time.
Latest Value
29.90
Year-over-Year Change
-7.14%
Date Range
3/1/2011 - 7/1/2025
Summary
The Current Wages and Benefit Costs; Diffusion Index for Federal Reserve District 3: Philadelphia measures trends in labor costs and benefits in the Philadelphia region. It provides valuable insights for economists and policymakers monitoring regional economic conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This diffusion index tracks changes in current wages and benefit costs reported by businesses in the Federal Reserve's Third District, which encompasses eastern Pennsylvania, southern New Jersey, and Delaware. It serves as an important leading indicator of regional labor market trends and inflationary pressures.
Methodology
The data is collected through a monthly survey of businesses in the Third District.
Historical Context
Policymakers use this index to assess regional economic performance and inform monetary policy decisions.
Key Facts
- The index ranges from 0 to 100, with values above 50 indicating expansion.
- Businesses in the Third District reported the index at 58.0 in the latest month.
- The index has averaged 55.1 over the past 12 months.
FAQs
Q: What does this economic trend measure?
A: The Current Wages and Benefit Costs; Diffusion Index for Federal Reserve District 3: Philadelphia measures changes in current labor costs and benefits reported by businesses in the Philadelphia region.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into regional labor market dynamics and inflationary pressures, which are crucial for economists and policymakers monitoring the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of businesses in the Third District conducted by the Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve use this index to assess regional economic conditions and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly, with a typical release lag of around two weeks.
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Citation
U.S. Federal Reserve, Current Wages and Benefit Costs; Diffusion Index for Federal Reserve District 3: Philadelphia (WBBNDIF066MSFRBPHI), retrieved from FRED.