Latest Beige Book Findings Show Continue 2025 Growth at a Slightly Lower Pace – Artificial Intelligence Impacting Jobs
A slowdown in both the nation’s labor market as well as in overall consumer spending are two of the larger these dominating the most recent release of the Federal Reserve’s Beige Book.
Published eight times a year, the Beige Book, officially called the Summary of Commentary on Current Economic Conditions, is a collection of information from bankers, economists, investors, and others in the dozen Federal Reserve Bank districts regarding recent economic trends.
The publication is regarded as not just a snapshot on the current economy, but also often a harbinger of where things are heading.
A summary of the most recent edition notes that nationally “overall spending declined further, while high-end retail spending remained resilient. Some retailers noted a negative impact on consumer purchases from the government shutdown, and auto dealers saw declines in electric vehicle sales following the expiration of the federal tax credit.”
Reports from the 10th District, which includes all of Colorado and the northern half of New Mexico, show that while the labor market has become softer, “wage increases were in line with cost-of-living adjustments.” Firms in the district, meanwhile “remain optimistic about employment growth over the next six months.”
Trends in the 11th District, which takes in all of Texas as well as the southern half of New Mexico, reveal declines in “non-financial services, retail, and banking,” with weaknesses ongoing on the housing market and energy. The manufacturing sector, meanwhile, remained resilient, with “production growth continuing at a modest pace.”
The usually dynamic 12th District, which includes all of Arizona, saw employment levels holding steady and wages marginally on the upside. “Activity in retail trade, agriculture, and residential real estate eased slightly, while activity in services, manufacturing, and commercial real estate remained largely unchanged, on balance.”
In a summary of all the district’s most recent findings, it was also noted that some firms have reported that “artificial intelligence replaced entry-level positions, or made existing workers productive enough to curb new hiring.”
December 1, 2025
By Garry Boulard
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Latest Beige Book Findings Show Continue 2025 Growth at a Slightly Lower Pace – Artificial Intelligence Impacting Jobs
A slowdown in both the nation’s labor market as well as in overall consumer spending are two of the larger these dominating the most recent release of the Federal Reserve’s Beige Book.
Published eight times a year, the Beige Book, officially called the Summary of Commentary on Current Economic Conditions, is a collection of information from bankers, economists, investors, and others in the dozen Federal Reserve Bank districts regarding recent economic trends.
The publication is regarded as not just a snapshot on the current economy, but also often a harbinger of where things are heading.
A summary of the most recent edition notes that nationally “overall spending declined further, while high-end retail spending remained resilient. Some retailers noted a negative impact on consumer purchases from the government shutdown, and auto dealers saw declines in electric vehicle sales following the expiration of the federal tax credit.”
Reports from the 10th District, which includes all of Colorado and the northern half of New Mexico, show that while the labor market has become softer, “wage increases were in line with cost-of-living adjustments.” Firms in the district, meanwhile “remain optimistic about employment growth over the next six months.”
Trends in the 11th District, which takes in all of Texas as well as the southern half of New Mexico, reveal declines in “non-financial services, retail, and banking,” with weaknesses ongoing on the housing market and energy. The manufacturing sector, meanwhile, remained resilient, with “production growth continuing at a modest pace.”
The usually dynamic 12th District, which includes all of Arizona, saw employment levels holding steady and wages marginally on the upside. “Activity in retail trade, agriculture, and residential real estate eased slightly, while activity in services, manufacturing, and commercial real estate remained largely unchanged, on balance.”
In a summary of all the district’s most recent findings, it was also noted that some firms have reported that “artificial intelligence replaced entry-level positions, or made existing workers productive enough to curb new hiring.”
December 1, 2025
By Garry Boulard
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