Fed report reveals moderate job growth

Thursday, June 07, 2012 Regions

A report from the Federal Reserve recently revealed that U.S. job growth was making progress, albeit at a slow pace.

In its "Beige Book," the Fed reported that during the period of April 2 to May 23, 10 out of 12 banking districts had seen either modest or moderate growth, with home sales, construction and manufacturing showing improvements. The report may calm fears some had after the Labor Department reported that the unemployment rate had increased from 8.1 to 8.2 percent during May. 

"Reports from the twelve Federal Reserve Districts suggest overall economic activity expanded at a moderate pace during the reporting period from early April to late May,"  the Fed stated. "Economic outlooks remain positive, but contacts were slightly more guarded in their optimism."

One sector that continues to see expansion is the information technology sector. According to a study by IT employment firm Dice, 73 percent of industry managers asked said hiring would take place during the second half of 2012.


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