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Fed Says Economic Expansion Continues Across the U.S.

American Staffing Association (01/16/14)

The outlook for the U.S. economy is largely positive, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Most districts reported that their local economy was expanding at a moderate pace, with increased activity in nonfinancial services, retail spending, and real estate. Three specific areas of strength in manufacturing were mentioned by multiple districts: commercial aviation, autos, and construction materials. Most district reports indicated that wage and price pressures were contained. Demand for staffing services increased in the New York, Cleveland, Richmond, Chicago, and Dallas districts, notably to serve the information technology and engineering sectors.