Red warning signs in the beige book. From Marketplace, I'm Nancy Marshall Ginsburg in Washington.

The Federal Reserve says more consumers are pinching pennies amid higher inflation. Many businesses

are reporting cooling demand, and the economy is growing at a slight to moderate pace in much of the

country. The Fed's latest snapshot of

economic conditions known as the Beige Book also includes reports of increased credit card use.

Marketplace's Nova Safo has more. The latest survey covers mid-April through May, and it finds

energy price increases quickly affecting consumers and exacerbating disparities in the

case-shaped economy. One survey respondents said middle-income households were, quote, squeezing more

life out of every dollar. Inflation was biting across business sectors. Dealerships reported

less demand for new cars, consumers cut back on weekend trips, manufacturing customers pulled back

on investments. Hiring remained stuck in low-fire, low-hire mode, except at defense, and

data center-related companies, which continue to grow. Fed policymakers meet in two weeks to discuss

interest rates. I'm Nova Saffo for Marketplace.

We're about to learn what the labor market looked like in May. The Bureau of Labor Statistics releases its monthly jobs report tomorrow. One of the stats at tracks has been slowly but

steadily rising over the past few years the number of people working part-time for economic reasons. That's BLS speak for

workers who'd like to be full-time, but had their hours cut or haven't been able to find full-time

jobs. That number hit a low as the economy came out of the pandemic, but since then, it's up

35%. Marketplace's Henryap reports.

22-year-old Vincent Ruggiero, like a lot of recent college grads, has been working multiple part-time jobs.

After he graduated in December, he had a tutoring gig with Teach for America, 10 hours a week,

another 10 hours a week in a role with a youth advocacy organization.

These roles are great. These roles will help me in my

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