US growth and hiring defy global slowdown worries

Tim Wallace
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Employers across the US are hiring more staff in all industries, Federal Reserve officials said last night.

Despite worries about the strength of growth across Asia and Europe, the Fed’s regular Beige Book publication showed a very upbeat recovery in the US.

Conditions were so buoyant that labour shortages were reported in some regions, with firms struggling to hold on to key staff, and others finding it difficult to fill roles in industries as diverse as IT, engineering, manufacturing and legal services.

And the healthy conditions are expected to continue into 2015.

“A number of districts also noted that contacts remained optimistic about the outlook for future economic activity,” the report said.