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Fed: Economy Generally Expanded; Staffing Steady but With Shortages of Skilled Workers

American Staffing Association (06/04/15)

Overall economic activity expanded from early April to late May, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Employment levels were up slightly over the reporting period, with some reports of layoffs. Demand for nonfinancial services increased. Staffing firms generally reported a steady demand for services but difficulty attracting qualified candidates. Shortages of skilled workers created wage pressure. Outlooks among respondents were generally optimistic, with growth expected to continue at a modest to moderate pace in several districts.