Fed's Beige Book: Employment increased at a modest-to-moderate pace; labor markets remained tight
|According to the Federal Reserve’s Beige Book about the state of the economy, based on information collected before April 10th (2017), economic activity expanded at a modest-to-moderate pace between mid-February and the end of March.
Key headlines (via Reuters):
- Employment increased at a modest-to-moderate pace; labor markets remained tight
- Modest wage increases broadened and most districts reported more difficulty filling low-skilled positions
- More firms said they experienced higher labor turnover rates and more difficulty retaining workers
- Prices rose modestly and firms mostly expected mild-to-moderate price growth over next several months
- Manufacturing continued to expand at a modest-to-moderate pace
- Consumer spending varied across Fed's 12 districts while non-financial services generally continued to expand steadily
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