Beige Book: Nearly all districts noted modest improvement in labor availability

Highlights of the Beige Book:

• Nearly all districts noted modest improvement in labor availability amid weaker demand for workers
• On balance pricing power was steady though some notes of slower demand
• Most districts continued to report wage growth
• Housing demand weakened noticeably
• New auto sales remained sluggish due to low inventory
• Full report

This is an interesting shift on the labor market. Non-farm payrolls Nonfarm Payrolls Nonfarm Payrolls (NFP) is the single biggest monthly economic news indicator released out of the United States, usually on the first Friday of every month. Reported by the US Bureau of Labor Statistics, the NFP measures the increase or decrease in the number of people employed during the previous month, except for those working in the farming and agriculture industry.The NFP can also be referred to as an Employment Change, and is the most anticipated monthly report. As it's released at the begin Nonfarm Payrolls (NFP) is the single biggest monthly economic news indicator released out of the United States, usually on the first Friday of every month. Reported by the US Bureau of Labor Statistics, the NFP measures the increase or decrease in the number of people employed during the previous month, except for those working in the farming and agriculture industry.The NFP can also be referred to as an Employment Change, and is the most anticipated monthly report. As it's released at the begin Read this Term have remained strong but there are some slight cracks, which could mean some people have returned to the labor market, or there was more slack on the sidelines than believed. That's something that the Fed wanted to see.