Employment ‘mostly unchanged’ in most recent period, Beige Book says

In its latest Beige Book report, the Federal Reserve stated: “Employment was mostly unchanged in the most recent period, with eight of the twelve Districts reporting no changes in hiring. Multiple Districts reported an increase in the usage of temporary workers, with one contact reporting this allows them “to stay flexible in uncertain times.” When firms were hiring, it was mostly to backfill vacancies rather than create new positions… Prices grew at a moderate rate across a large majority of Districts, with only two Districts reporting slight price growth. Cost pressures due to tariffs were a consistent theme across all Districts. Several contacts that initially absorbed tariff-related costs were beginning to pass them on to customers as pre-tariff inventories became depleted or as pressures to preserve margins grew more acute.”