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Fed: Economy improving in the St. Louis area

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ST. LOUIS (AP) – A new report from the Federal Reserve Bank of St. Louis says the economy is improving in the St. Louis area.

The Fed said in its quarterly pulse-read report on Tuesday that business leaders in the region are optimistic about the economy. The St. Louis Post-Dispatch reports that the Fed found the unemployment rate falling faster in St. Louis than in the nation overall. The St. Louis area unemployment rate was 4.9 percent in April.

Meanwhile, half of the Fed’s business contacts have raised wages “slightly,” though about one-third report trouble hiring qualified employees.
Information from: St. Louis Post-Dispatch