Daily NewsView All News
Hiring held steady or posted a modest increase across several Federal Reserve districts, according to the U.S. Federal Reserve Beige Book report released Wednesday. However, some districts reported a preference for contingent workers.
“A preference for part-time and temporary workers was seen in the Richmond and Atlanta districts,” according to the Beige Book. “Atlanta noted that temporary workers were being utilized in order to contain costs and retain flexibility, while some employers in Richmond prefer temporary workers due to uncertainty about future demand.”
Several districts reported employers were having difficulty finding qualified workers for certain high-skilled positions. The Philadelphia and Cleveland districts reported that new federal regulations are exacerbating a truck driver shortage. The New York district commented that employers are planning to increase hiring in the months ahead.
Upward pressure on wages was modest.
The Beige Book report indicated that overall economic activity in the U.S. rose at a modest to moderate pace from mid-February through late March.