Research & Data

Texas Manufacturing Outlook Survey

Wages and Benefits Index

September 2012

Wages and Benefits—Index

Sep 11
Oct 11
Nov 11
Dec 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
Jun 12
Jul 12
Aug 12
Sep 12
Current Wages and Benefits, seasonally adjusted
18.7
11.9
12.6
19.4
17.5
18.4
21.0
15.2
20.0
13.2
22.9
13.5
15.4
Future Wages and Benefits, seasonally adjusted (six months from report period)
33.2
33.2
37.8
39.8
36.6
39.9
40.3
36.4
34.4
27.3
35.0
35.8
34.4

Wages and Benefits—Composition of Responses

 
Sep 11
Oct 11
Nov 11
Dec 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
Jun 12
Jul 12
Aug 12
Sep 12
Current Wages and Benefits, seasonally adjusted
% Increase
23.7
14.7
15.1
20.8
18.4
19.5
22.0
18.3
21.0
14.7
24.0
14.3
16.5
% No Change
71.4
82.6
82.4
77.7
80.7
79.4
77.0
78.6
78.0
83.8
74.9
84.9
82.4
% Decrease
5.0
2.8
2.5
1.4
0.9
1.1
1.0
3.1
1.0
1.5
1.1
0.8
1.1
 
Sep 11
Oct 11
Nov 11
Dec 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
Jun 12
Jul 12
Aug 12
Sep 12
Future Wages and Benefits, seasonally adjusted (six months from report period)
% Increase
36.4
35.8
38.8
39.9
36.9
39.9
40.3
38.0
35.1
28.4
37.0
38.0
36.3
% No Change
60.4
61.6
60.2
60.0
62.7
60.1
59.7
60.4
64.2
70.5
61.0
59.8
61.8
% Decrease
3.2
2.6
1.0
0.1
0.3
0.0
0.0
1.6
0.7
1.1
2.0
2.2
1.9

NOTE: Survey responses are used to calculate an index for each indicator. Each index is calculated by subtracting the percentage of respondents reporting a decrease from the percentage reporting an increase. When the share of firms reporting an increase exceeds the share of firms reporting a decrease, the index will be greater than zero, suggesting the indicator has increased over the prior month. If the share of firms reporting a decrease exceeds the share reporting an increase, the index will be below zero, suggesting the indicator has decreased over the prior month. An index will be zero when the number of firms reporting an increase is equal to the number of firms reporting a decrease. Items may not add up to 100 percent because of rounding.

Questions regarding the Texas Manufacturing Outlook Survey can be addressed to Emily Kerr at emily.kerr@dal.frb.org.

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