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Beige Book: Hiring Steady, Skills Gap Cited

June 07 2012

Hiring was steady or rose slightly across several Federal Reserve districts from early April to late May, according to the U.S. Federal Reserve Beige Book report released Wednesday. However, some districts reported difficulty finding highly skilled workers in a number of industries.

“Demand for temporary workers rose in the Richmond district, and several employers in the Minneapolis district noted a tightening labor market,” according to the Beige Book. “New York’s report indicated that demand for staffing services was mixed, but manufacturers and other business contacts expect hiring to pick up in coming months.”

The Cleveland and Dallas districts reported a pickup in orders in information technology and professional services hiring, while the Chicago district reported that they were easing job requirements or using interns to fill open positions in manufacturing.

Upward pressure on wages was modest.

The Beige Book report indicated that overall economic activity in the U.S. rose at a moderate pace from early April through late May.

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