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Beige Book says labor markets still tight

January 17 2008
Labor markets continued to remain tight although housing-related industries continued to trim payrolls, according to the U.S. Federal Reserve Beige Book report released Wednesday. Increases in employment costs were described as moderate.

The Dallas and Philadelphia Federal Reserve Districts reported weaker demand for temporary workers. On the other hand, the New York and Richmond VA districts reported relatively strong demand.

The report said economic activity increased, but at a slower rate than in the last Beige Book posted in November.

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