Fed's Beige Book: Employment increased at a modest-to-moderate pace; labor markets remained tight

According to the Federal Reserve’s Beige Book about the state of the economy, based on information collected before April 10th (2017), economic activity expanded at a modest-to-moderate pace between mid-February and the end of March.

Key headlines (via Reuters):

• Employment increased at a modest-to-moderate pace; labor markets remained tight
• Modest wage increases broadened and most districts reported more difficulty filling low-skilled positions
• More firms said they experienced higher labor turnover rates and more difficulty retaining workers
• Prices rose modestly and firms mostly expected mild-to-moderate price growth over next several months
• Manufacturing continued to expand at a modest-to-moderate pace
• Consumer spending varied across fed's 12 districts while non-financial services generally continued to expand steadily