Philly Fed Employment in the United States decreased to -1.30 points in February from 9.70 points in January of 2026. Philly Fed Employment in the United States averaged 2.30 points from 1968 until 2026, reaching an all time high of 41.10 points in August of 2020 and a record low of -51.80 points in March of 2009. source: Federal Reserve Bank of Philadelphia

Related	Last	Previous	Unit	Reference
Coincident Index	148.70	148.70	points	Dec 2025
Philadelphia Fed Manufacturing Index	16.30	12.60	points	Feb 2026
Philly Fed Business Conditions	42.80	25.50	points	Feb 2026
Philly Fed CAPEX Index	14.40	30.30	points	Feb 2026
Philly Fed Employment	-1.30	9.70	points	Feb 2026
Philly Fed New Orders	11.70	14.40	points	Feb 2026
Philly Fed Prices Paid	38.90	46.90	points	Feb 2026

United States Philly Fed Employment

Philadelphia Fed Manufacturing Index is based on The Business Outlook Survey of manufacturers in the Third Federal Reserve District. Participants report the direction of change in overall business activity and in the various measures of activity at their plants: employment, working hours, new and unfilled orders, shipments, inventories, delivery times, prices paid, and prices received. The index above 0 indicates factory-sector growth, below 0 contraction.