Federal Reserve's Beige Book: Wages continue to grow at a moderate pace

Odaily Planet Daily reported that the Federal Reserve's Beige Book stated that there has been little change in employment since the last report. Most regions reported stable employment, with 3 regions reporting slight to moderate growth in employment and 2 regions reporting a slight decline in employment. Many regions have reported a decrease in employee turnover rates and an increase in applicants for vacant positions. There are widespread comments about uncertainty causing recruitment delays. All regions mentioned a decline in labor demand, citing reasons such as reduced working hours and overtime, recruitment suspensions, and layoff plans. Some regions have reported layoffs in certain industries, but these layoffs are not widespread. Two regions pointed out that for many interviewees, the recruitment plan has not changed since the beginning of the year. Wages continue to grow at a moderate rate, although many regions have reported a general easing of wage pressures. A few regions have indicated that the rising cost of living continues to exert upward pressure on wages. (Golden Ten)