Dallas San Francisco Full report The Fourth District economy continues to grow, but at a moderating pace.
Labor markets are strong and price pressures remain light.
Both residential and commercial construction are flourishing, particularly in the central Ohio and Pittsburgh areas. Temporary employment agencies report increased demand since the beginning of the year, especially for data entry employees and administrative assistants. Historically, the first quarter is a slack season, so the robust activity thus far in 1998 suggests that temporary employment demand for the rest of 1998 will exceed even the high levels seen in 1997. Many companies report that they are increasingly willing to train unskilled employees, especially those who are willing to learn some computer skills. Those unions that have not yet seen wage gains expect to see them in the near future.