美联储褐皮书：工资继续以温和速度增长

Summary of Key Points Core Viewpoint - The Federal Reserve's Beige Book indicates that employment conditions have remained largely unchanged since the last report, with moderate wage growth continuing despite some easing of wage pressures across various regions [1]. Employment Situation - Employment levels are stable across most regions, with three regions reporting slight to moderate growth and two regions indicating a slight decline in employment [1]. - Many regions have noted a decrease in employee turnover and an increase in applicants for job vacancies [1]. - There is a general sentiment of uncertainty leading to delays in hiring processes [1]. Labor Demand - All regions have reported a decline in labor demand, attributed to reduced work hours, overtime cuts, hiring freezes, and planned layoffs [1]. - Some regions have observed layoffs in specific industries, although these are not widespread [1]. - Two regions mentioned that recruitment plans have not changed since the beginning of the year [1]. Wage Growth - Wages continue to grow at a moderate pace, with many regions reporting a general easing of wage pressures [1]. - A few regions indicated that rising living costs are exerting upward pressure on wages [1].