Bankruptcies are still problematic, and some slowdown in consumer borrowing has been attributed to the deterioration in consumer balance sheets. Wages and Prices Labor shortages continue to be reported in parts of the District, but reports of wage pressures are infrequent. One contact notes that the scarcity of workers is forcing companies to automate their processes as much as possible. More companies are reportedly getting involved with technical and trade school faculties to focus curriculum thereby increasing the firm's potential labor pool. Contacts note that apparel employees are more concerned about job security than wage increases in light of the closings of a number of mills.
Prices are generally stable.
Most contacts report that they are unable to pass increases at the input level on to end users because of competitive factors. In Louisiana, costs in the oil and gas sector are rising notably. To comment on this site, please fill out our feedback form.