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Fed: Continued Demand for Staffing Amid Tight Labor Markets

American Staffing Association (10/15/15)

According to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”), reports from all 12 districts pointed to continued modest expansion in economic activity during the reporting period from mid-August through early October. Labor markets tightened in most districts with reports of labor shortages. Many districts continued to report that employers were having difficulty finding skilled workers, and, in some cases, unskilled workers. Scattered labor shortages were reported in construction, trucking, and information technology. Wage growth was mostly subdued. Although there were scattered reports of increased wage pressures, they were generally concentrated among highly skilled workers in IT, health care, professional services, and some of the skilled trades.