Fed stresses difficulty for companies to get workers
A report from the Federal Reserve said that companies are having a difficult time hiring qualified personnel
The US Federal Reserve (Fed) said in its most recent report, known as the Beige Book, that companies in the country continue to face difficulties hiring workers, especially in sectors such as healthcare, transportation and hospitality.
The report also highlights that companies are having trouble finding highly-skilled workers, although there is a gradual improvement and the number of job resignations has dropped to pre-pandemic levels.
In general, the country’s economic activity experienced a slight increase in May. Five districts showed moderate growth, five were flat, and two experienced a modest decline.
In terms of prices, overall “modest” growth has been observed with several districts reporting a slowdown in the rate of increase.
These data are in line with the report from the Bureau of Labor Statistics (BLS), which reveals that the inflation rate in the country stands at 3%, levels similar to those prior to the pandemic.
In the tourism sector, the Fed expects a busy summer season due to “strong travel movement” in recent weeks. The Beige Book is published eight times a year and analyzes the economic situation in the 12 geographic districts into which the Fed divides the country.
K. Tovar
Source: Descifrado
(Reference image source: Joshua Woroniecki, Unsplash)
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