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Dealing with the impact of manufacturing job losses in the Midwest
The Community Development and Policy Studies division (CDPS) of the Federal Reserve Bank of Chicago hosted the Industrial Cities Initiative Symposium (ICI) on February 28, 2012. More than 50 economists, development professionals, city representatives, and analysts from business, academia, and city government attended the symposium.
Journal Article
A few examples of Chicago tackling youth joblessness
Many young people nationwide are undereducated, jobless, and living in poverty with no job prospects; in urban areas particularly, they face a continuing cycle of unemployment, in addition to substandard and often dangerous neighborhood conditions. Using greater Chicagoland (including the city and Cook County) as a case study, this article will highlight how capital and resources from the private sector, namely loans, investments, and services from regulated financial institutions (e.g., banks) could foster greater economic and community development, especially for underserved and at-risk ...
Newsletter
Economic Outlook Symposium: summary of 2008 results and forecasts for 2009
According to participants in the Chicago Fed?s annual Economic Outlook Symposium, the nation?s economic growth in 2009 is forecasted to be very weak, with inflation moving lower and the unemployment rate higher. The housing sector is predicted to remain weak, and light vehicle sales are expected to decline further.
Newsletter
Economy to cruise at speed limit through 2006
The U.S. economy experienced solid growth in 2004, with light-vehicle sales rising to 16.8 million units. What can we expect in 2005 and 2006? At a recent Chicago Fed symposium, auto industry experts came together to analyze the sector?s performance and discuss the outlook for next year and beyond.
Journal Article
Industrial cities initiative: working paper summary
"Rust Belt" is an epitaph for cities large and small throughout America's midwestern and northeastern regions. It encapsulates social and economic changes: "population loss, rising crime rates, loss of union jobs particularly in manufacturing, White flights to the suburbs, and a generally declining urban environment," in which massive, but abandoned factories rusted away and scarred the landscape of once vibrant cities.
Journal Article
Residential Mortgage Lending for Underserved Communities: Recent Innovations
As the United States continues to recover from its worst financial crisis since the 1930s, housing finance leaders from both the public and private sectors have diligently worked to develop programs, products, and services to safely expand access to affordable homeownership. Despite persistently low interest rates, relatively modest growth in home prices, and a strengthening labor market, purchase mortgage volume remains low compared to the pre-crisis and pre-bubble years, and the homeownership rate continues to fall. Factors contributing to the homeownership decline include the still ...
Newsletter
Economic Outlook Symposium: summary of 2004 results and forecasts for 2005
The forecasters expect more moderate economic growth during 2005, with some reduction in activity in the housing sector and a slower pace of consumer spending growth than in the past several years.
Newsletter
Economic Outlook Symposium: summary of 2006 results and forecasts for 2007
In 2007, the nation?s economic growth will soften slightly, inflation will decrease, and the unemployment rate will edge higher, according to the median forecast of the participants at the Federal Reserve Bank of Chicago?s Economic Outlook Symposium.
Newsletter
Economic Outlook Symposium: summary of 2007 results and forecasts for 2008
According to participants in the Chicago Fed's annual Economic Outlook Symposium, the nation's economic growth in 2008 is forecasted to be roughly in line with the pace recorded over the past two years, with inflation moving lower and the unemployment rate edging higher.
Journal Article
Employment Challenges for the Formerly Incarcerated
The U.S. economy is on a historic run of job creation, with 76 straight months of job growth as of June 2016. Many firms are looking for new pools of talent as traditional pools are increasingly absorbed by rising employment. Wages are beginning to rise more rapidly than they have for several years, with ADP?s Workforce Vitality Report for Q1 2016 estimating annual wage growth for full-time job holders of 4.7 percent. The strengthening labor market provides an opportunity for both employers and policymakers to reconsider the status of subgroups that face distinct barriers to the job market. ...