Federal Economy Report..what do you think?
What do you think about this report? Do you notice a difference? How do you feel the Dallas/Fort Worth market is?
Economy Continues to Expand, Fed Says
“Reports from all 12 Federal Reserve districts indicate that business activity continued to expand from late February through early April,” the Federal Reserve Board said in last week’s “beige book” report on current economic conditions for March and April. Labor reports from the districts were mixed.
Boston “Manufacturers are hiring for sales, marketing, and R&D positions,” the beige book reported. “Most responding [business services] companies are adding to their head counts.”
New York According to the report, the district’s economy “continued to grow” but noted “considerable variation across sectors.”
Philadelphia “Employment agencies in the region reported growing demand for workers,” the beige book said. “Companies in manufacturing, trade, services, and the financial sectors have relatively stronger hiring plans than do employers in other sectors.”
Cleveland “Hiring still seemed limited throughout the district, though staffing-services companies reported an increase in openings and a shrinking supply of prospective candidates,” the book reported. “Recruiters reported that it took longer than at this time a year ago to find matches for available openings.”
Richmond Staffing firms in the district “reported that stronger economic activity drove up the demand for temporary workers,” the beige book said.
Atlanta “Hiring expanded at a modest pace with numerous firms indicating they were relying on temporary staffing firms to fill job openings,” the report said.
Chicago “Staffing firms reported modest growth in demand for temporary workers; one noted that the growth in their fees from permanent placements was stronger than their growth in billings for temporary workers,” the book reported.
St. Louis “Business activity in the eighth district continued to expand,” the beige book said. “Reports in manufacturing were generally positive. Contacts in the services sector continued to report increased economic activity.”
Minneapolis The ninth district economy “displayed firm growth,” the report stated. “Employment grew moderately, and wage increases were generally modest.”
Kansas City “The number of firms reporting worker shortages continued to increase,” the beige book said. “Workers reported to be in especially short supply included truck drivers, computer technicians, and both entry-level and experienced workers in the retail, manufacturing, and energy sectors.”
Dallas “The labor market continued to slowly improve, and there continued to be reports of shortages for a few types of workers,” the book reported. “Temporary staffing firms said demand was mixed over the past six weeks.”
San Francisco “Respondents reported some tightening in district labor markets in recent weeks, especially for high-skilled workers,” the report said, “though most indicated they were able to fill job openings.”
Allyson Schuster (Reported by ASA www.staffingtoday.net)


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