Fed Beige Book sees some stabilization - Austin Business Journal:

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The book, published periodically by the bank, indicatez that while respondents to the survey were more they remain skeptical about the overallp economy with hiring freezes still in placse and labor market conditions remaining soft in EleventhDistrict markets. Professionalsx working in staffing, legal and accounting firms said clients are pushinbg for lower service prices and retailers say prices on goods continueto drop. Auto dealers are finding that used car prices are maintaining their strength and are performing bettee than newcar prices. Airline leaders interviewed for the survey said theyreported “substantial fare sales” in recenr weeks.
In the energy sector, professionals said rates charge for routine wellhead work are under pressure becaus e producers are asking formore concessions. Prices in the manufacturingv sectorremain flat. During the period of mid-April to late May, lightt sweet crude oil prices jumpedfrom $50 to $60 per The labor market showed signs of continued volatility. Firmsd were still reporting layoffs even thoughu employment levels are considered steady The report says consolidation in industries likeprimaryh metals, construction manufacturing, homebuilding, financial services and auto sales createas a degree of worry about further job cuts.
The report says hiring freezes stil remain prevalent and wage pressureware “mostly nonexistent.”