Lates News

The Federal Reserve's Beige Book shows that the overall employment market in the United States continues to grow. Out of the 12 Federal Reserve districts, 5 regions saw moderate, moderate-to-significant, or significant job growth, while 7 regions saw little to no change in employment. Only 1 region reported improved job growth compared to the previous period. The report stated that employment increased in multiple industries such as manufacturing, construction, and retail, but it remains difficult to hire technical professionals and skilled workers. Some regions saw a slight decrease in employment, but the decline was limited. In terms of wages, most regions saw moderate to moderate wage growth, with some wage increases attributed to companies competing for skilled labor. Additionally, a few regions reported that companies are increasingly using artificial intelligence for recruitment screening or to improve employee productivity.