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The economy weakened and demand for temporary staffing decreased in several areas, according to the U.S. Federal Reserve's Beige Book report released Wednesday. Federal Reserve districts reporting less demand for temporary workers included Boston, Richmond VA, Chicago and Dallas.
Several districts reported slowing labor markets overall. The Atlanta district cited an increase in layoffs and a decrease in hours. The Dallas district said job cuts were pronounced in the manufacturing sector, and the San Francisco district reported jobs cuts and hiring freezes in a wide range of industries.
The Chicago district, however, said demand for skilled labor remained strong. The Boston district reported difficulties filling openings in some professions, and the Minneapolis district reported difficulty finding skilled workers in some areas.