U.S. Fed reports tight labor market, modest wage growthStaff Writer | January 18, 2018
U.S. economy continued modest to moderate growth pace in late November through the start of 2018, with tight labor market but modest wage growth, according to a Federal Reserve survey.
America The outlook for 2018 remains optimistic
"The outlook for 2018 remains optimistic for a majority of contacts across the country," the report said, noting most manufacturers reported modest growth in overall business conditions.
While most districts reported on-going labor market tightness and challenges finding qualified workers across skills and sectors, wages still increased "at a modest pace", according to the report.
Several districts also noted increases in manufacturing, construction, or transportation input costs, but firms in some districts said they have the ability to increase their selling prices, the report said. ■