Speech

Crossing the Geographic Divide

Abstract: Economic growth depends on how many people are working and how productive they are. Given slow population and productivity growth, future economic growth may depend on people currently on the sidelines of the labor market. Many people who have left the labor force have done so for demographic reasons and are unlikely to return. But there are large disparities among working-age people by education, race, gender and geography. For example, both the employment-population ratio and labor force participation rate are lower in rural than in urban areas. There are large divides within cities as well. Education and workforce development are the keys to improving employment outcomes. Better employment outcomes for many groups will help ensure our country's future growth, as well as help address poverty and its associated ills.

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Speech

Publication Date: 2018-10-02