US economy grows modestly as job market tightens: Beige Book

Washington

THE US economy expanded at a modest pace across most of the country since mid-April, causing the labour market to tighten as employers continued adding jobs and nudging wages higher, a Federal Reserve report showed.

"Employment grew modestly since the last report, but tight labour markets were widely noted," according to the Fed's latest Beige Book, an economic survey published eight times a year. "Wages grew modestly, and price pressures grew slightly in most districts."