After a downturn in the district farm economy in 1995 and 1996, many banks are optimistic about the improving financial condition of their borrowers, especially wheat and cattle producers. Wages and Prices Labor markets remained tight last month in much of the district, with some limited evidence of wage pressures. Retailers say qualified entry-level workers were hard to find, and manufacturers report difficulty hiring production workers and skilled craftspeople. A few companies say they raised wages more than normal to attract or retain workers, but most say wage increases were about normal. Prices held steady at the retail level and for most materials used in manufacturing and construction.
Retailers expect no major price changes in coming months.
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