US labor markets: modest employment gains, mixed labor demand by sector
Employment rose very slightly overall, with modest gains in three Districts and slight gains in four; five saw no change. Demand was healthy in manufacturing and construction, but fell in retail and hospitality.
Labor Markets Employment rose very slightly overall, with three Districts showing modest gains in employment, four reporting slight gains, and five Districts experiencing no change.
Eight Districts saw a change in their pace of growth from the previous report, but there was less overall dispersion among Districts.
Healthy labor demand was seen most frequently in manufacturing, construction, and some service sectors, while retail and hospitality sectors saw falling labor demand.
Labor availability was mixed.
Skilled trades and technical workers were difficult to find.
Districts also reported both positive and negative effects of artificial intelligence on labor demand.
Wage growth was modest to moderate in most Districts.
Significant wage increases were most often connected to demand for skilled workers in construction and manufacturing.