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Beige Book Finds Slight Increase in Hiring

March 01 2012

A slight increase in hiring was noted in the U.S. Federal Reserve Beige Book report released Wednesday. Several Federal Reserve districts noted increases in manufacturing sector hiring include Boston; New York; Cleveland; Richmond, Va.; St. Louis; and Minneapolis. Several districts also reported that a variety of industries cited difficulties finding skilled or specialized workers.

Staffing firms in the Boston district reported that the hiring cycle remains “elongated” despite stronger demand. Dallas staffing firms noted high demand for workers, but a major employment agency in New York indicated hiring was flat.

Upward pressure on wages was limited.

Overall, the Beige Book report indicated that overall economic activity in the U.S. rose at a modest to moderate pace in January and early February.

Wheeler had been president and chief operating officer of TRS Staffing Solutions Inc. from 1994 to 1999. Prior to that he was at Kelly Services Inc. (NASD: KELYA) where he served as senior vice president until 1994.

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