U.S. economy expanding at 'modest' pace, Fed report - 2007-01-17
Growth of the U.S. economy is only growing at a modest pace, but there is no evidence of any cooling in the hot labor market, the Federal Reserve's latest survey of current economic conditions discovered. Overall, wage gains for workers has been "relatively moderate" but certain business lines are seeing wage hikes and are worried about higher benefit costs, the survey found.
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Fed: U.S. Economy grew; housing, companies struggle - 2007-01-17
Despite the U.S. economy experiencing modest growth at the end of 2006, many businesses had trouble finding skilled workers, and the housing market continued to soften, the Federal Reserve's Beige Book revealed Wednesday. While many companies were looking for employees with particular skills, the Fed said housing markets continued to weaken and that bulging inventories of unsold homes were holding back construction.
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