"The pace of the U.S. economic recession
slowed or stabilized in most areas of the country, a Federal
Reserve report (Beige Book) said on Wednesday, pointing to a
protracted period of weakness even as the economy transitions to
recovery.
Labor markets across the country were
"extremely soft," with little upward pressure on wages, the Fed
said in its Beige Book survey of economic conditions through July
20.
Wages and compensation were steady or
falling in most areas, the Fed said.
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Beige Book report
Beige Book at 2:00 EST
Posted by macbeth on 29th of Jul 2009 at 02:20 pm
From your favourite TV station:
"The pace of the U.S. economic recession slowed or stabilized in most areas of the country, a Federal Reserve report (Beige Book) said on Wednesday, pointing to a protracted period of weakness even as the economy transitions to recovery.
Labor markets across the country were "extremely soft," with little upward pressure on wages, the Fed said in its Beige Book survey of economic conditions through July 20.
Wages and compensation were steady or falling in most areas, the Fed said.