The economy expanded at a moderate pace through the end of August, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Employment and wages continued to grow at a modest to moderate pace, even as labor market tightness persisted. Businesses in some districts increasingly added benefits—such as vacation time, flexible schedules, and bonuses—to attract and retain employees. Businesses also noted they were putting more resources into training. Staffing demand was strong or growing in several districts, but labor shortages continued to pose an obstacle.
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.