Economic activity increased across all 12 Federal Reserve districts, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). The pace of growth was split between modest and moderate. Employment growth was modest, and labor markets were tight. Employers in many districts struggled to find qualified workers, and these shortages restrained business growth. Most districts reported only modest to moderate wage pressures, though some districts reported stronger wage pressures in certain sectors. Growing use of sign-on bonuses, overtime, and other nonwage efforts to attract and retain workers were reported. Staffing demand varied across sectors, ranging from steady to moderate.
View interactive Beige Book summaries by district, focused on employment, wages, and the staffing industry, at americanstaffing.net/federal-reserve-beige-book.
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About the American Staffing Association
The American Staffing Association is the voice of the U.S. staffing, recruiting, and workforce solutions industry. ASA and its state affiliates advance the interests of the industry across all sectors through advocacy, research, education, and the promotion of high standards of legal, ethical, and professional practices. For more information about ASA, visit americanstaffing.net.