US labor market still tight: Fed report

U.S. economy growing modestly

The U.S. economy expanded modestly from October to mid-November and the outlook for growth was generally positive while labor markets remained tight across the country, the Federal Reserve said in a report on Wednesday.

Overall, employment continued to rise, even as tight labor markets across the country made it difficult for employers to find the workers they needed. Some contacts said their inability to fill vacancies was constraining business growth. For example, two employment agencies in the New York district said “almost all job candidates” already are employed and are not interested in changing positions at this time of year.

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