850,000 jobs added in June but labor shortages persist
The Chateau on the Lake owner Edward ‘Buddy’ Foy, Jr. discusses the challenges of finding employees
The economy has continued to strengthen with moderate to robust growth since late May, but ongoing shortages in labor and supplies have persisted, the Federal Reserve found in its July Beige Book report.
"Supply-side disruptions became more widespread, including shortages of materials and labor, delivery delays, and low inventories of many consumer goods," the report stated, adding that "the outlook for demand improved further, but many contacts expressed uncertainty or pessimism over the easing of supply constraints."
The summary on current economic conditions also reported that prices increased at "an above-average pace," with seven of the Fed's 12 districts reporting strong price growth and the remaining areas seeing moderate gains.