A report by the US Federal Reserve revealed a low level of unemployment in the United States and consequently an increase in wages.
The low level of unemployment in the United States is pushing up wages, but inflationary pressure on prices remains modest, the US Federal Reserve said on Wednesday.
“Wage rises have broadened … and employers in most districts have reported difficulties in filling low-skilled jobs and high demand for more-educated jobs,” the Fed concluded in its “beige book”. As it is known the report of the central bank that collects information about the economic activity.
The unemployment rate in the US was, in March, 4.5 percent, the lowest in nearly a decade. Nonetheless, the companies consulted said they expect “mild to moderate price growth to continue in the coming months”.
The report also indicates that household consumption, with the exception of the automobile sector, has declined, despite some recovery of the income. The document will be used at the Fed’s meeting on monetary policy on May 2-3, in which it will consider a possible rise in interest rates. The Fed raised rates in December in March, but analysts are not expecting a further rise next month.