WASHINGTON (MNI) - The following is the text of the employment,
wages, and prices section of the Federal Reserve's summary of economic
conditions report, or Beige Book, released Wednesday:
Employment, Wages, and Prices
Employment expanded at moderate pace since the previous report.
Conditions in the labor market remained tight in the Boston, Chicago,
New York, San Francisco, St. Louis, and Minneapolis Districts. In
Boston, contacts reported an unusually high number of job openings, and
in the Richmond District turnover rates increased for entry-level
positions. Employment gains were only modest in Cleveland, and contacts
in Philadelphia reported an increase in part-time employees and longer
workweeks along with a reduction in full-time hires.