Job build-up slowly despite slight growth
According to the Fed, business activity in the USA has continued to pick up moderately in recent weeks. Most districts reported an increase in employment between January and mid-February, the Fed announced in its “Beige Book” economic report published on Wednesday. However, job development is slow.
Most companies have remained optimistic about the next six to twelve months, as more and more corona vaccines are coming onto the market. House prices continued to rise in most parts of the United States. The Beige Book is based on a survey among company representatives.
According to a company survey in February, US service providers suffered a slight setback in their business activities – nevertheless, as in the manufacturing sector, the signs are still pointing to growth. So far, however, the bottom line has been that around ten million jobs have been lost in the corona pandemic. Federal Reserve Chairman Jerome Powell recently stated that the US economy will still need help from the monetary authorities for some time to come. The development of the economy continues to depend significantly on the course of the virus and the measures taken to control its spread.
