Economic activity expanded moderately in late April and early May, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Employment rose at a modest to moderate pace, but labor market conditions remained tight. Shortages of qualified workers were reported in various specialized trades and occupations, including truck drivers and information technology professionals. Many firms responded to talent shortages by increasing pay and compensation packages, although wage increases remained modest in most districts. Staffing demand increased in several districts.
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.