Fed Says US Economy Expanding, Shale Production Steady
The Beige Book found that employment gains were widespread across the districts.
Strengthening labor market conditions resulted in employers in some districts struggling to retain key workers as well as fill job openings in sectors such as information technology, engineering, legal and health services, manufacturing and transportation.
While inflation remained subdued, a number of districts reported slight-to-moderate increases in labor costs.
"Upward wage pressures continued to be evident for certain types of occupations and for skilled workers," the Fed said.
(Reporting by Lucia Mutikani; Editing by Paul Simao)
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