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Beige Book - Labor markets post little movement

July 24 2008

Federal Reserve districts reported unchanged or slightly weaker labor markets, according to the U.S. Federal Reserve's Beige Book report released Wednesday.

Skilled workers remained in demand in most industries, although several Federal Reserve districts reported weakness in the financial services, auto and construction industries.

Little pressure to raise wages was reported in the Cleveland, Atlanta, Chicago and Kansas City districts, except for the energy and skilled labor markets, according to the report. The Boston and Dallas districts reported workers seeking wage adjustments because of cost-of-living increases.

Overall, U.S. economic activity slowed somewhat since June, according to the report.


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