Beige Book: U.S. labor market shows hints of broader wage pressures
The U.S. labor market tightened modestly in recent weeks with some upward pressure on wages as employers found it increasingly difficult to fill jobs across skill levels, the Federal Reserve said. Most districts said such wage pressures increased only for skilled occupations and workers in short supply but a few saw broader pressures. Overall wage pressures were "generally stable to increasing," the Fed said. Many districts indicated increased hiring was "driven by temporary and entry-level positions that were being fulfilled by staffing firms," the Beige Book noted.
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