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Fed: Modest to Moderate Economic Growth; Labor Supply an Obstacle

Economic activity continued to expand across the U.S., according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”), with most districts reporting moderate or modest growth. Employment and wages rose at a modest to moderate pace, but districts reported that tight labor markets and the inability to find workers constrained employment growth. Firms added work hours, strengthened retention efforts, partnered with local schools, and converted temporary workers to direct hires. Firms also raised compensation to attract and retain employees. Staffing demand was high or growing in several districts, but labor supply posed a challenge in some cases.

View interactive beige book summaries by district, focused on employment, wages, and the staffing industry, at americanstaffing.net/federal-reserve-beige-book.

To learn more about research by the American Staffing Association, visit americanstaffing.net/staffing-research-data. You can also follow ASA research on Twitter.

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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.

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