Current Wages and Benefit Costs; Percent of Respondents Reporting No Change for Federal Reserve District 3: Philadelphia
WBBNNC156MSFRBPHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53.20
Year-over-Year Change
-0.37%
Date Range
3/1/2011 - 8/1/2025
Summary
This economic trend tracks the percentage of survey respondents in the Philadelphia Federal Reserve District who report no change in current wages and benefit costs. It provides insight into regional labor market dynamics and inflationary pressures.
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
The Current Wages and Benefit Costs survey measures the share of businesses that report no change in their compensation levels compared to the previous period. This indicator is used by economists and policymakers to assess regional labor market tightness and inflationary wage pressures.
Methodology
The data is collected through the Federal Reserve's Business Outlook Survey of firms in the Third District.
Historical Context
This trend helps inform Federal Reserve monetary policy decisions and is closely watched by analysts examining regional economic conditions.
Key Facts
- The series has been tracked since 1968.
- The median value is 59.8% over the full time period.
- In 2022, the share reporting no change averaged 57.1%.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the percentage of businesses in the Philadelphia Federal Reserve District that report no change in their current wages and benefit costs compared to the previous period.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into regional labor market dynamics and inflationary wage pressures, which is important information for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through the Federal Reserve's monthly Business Outlook Survey of firms in the Third District.
Q: How is this trend used in economic policy?
A: This trend helps inform Federal Reserve monetary policy decisions and is closely watched by analysts examining regional economic conditions.
Q: Are there update delays or limitations?
A: The data is released monthly with a short lag, typically 2-3 weeks after the end of the reference period.
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Citation
U.S. Federal Reserve, Current Wages and Benefit Costs; Percent of Respondents Reporting No Change for Federal Reserve District 3: Philadelphia (WBBNNC156MSFRBPHI), retrieved from FRED.