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

Planet Daily News: The Federal Reserve's Beige Book indicates that employment conditions have remained largely unchanged since the last report. Most regions reported stable employment, with 3 regions reporting slight to moderate employment growth, and 2 regions reporting a slight decline in employment. Many regions reported lower employee turnover and increased job applicants. There were widespread comments about hiring delays due to uncertainty. All regions mentioned a decrease in labor demand, citing reasons such as reduced working hours and overtime, hiring freezes, and layoff plans. Some regions reported layoffs in certain industries, but these were not widespread. Two regions noted that hiring plans have not changed for many respondents since the beginning of the year. Wages continue to grow at a moderate pace, although many regions reported easing wage pressures. A few regions indicated that rising living costs continue to exert upward pressure on wages. (Jinshi)