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Journal Article
Understanding the Employment Patterns of Workers in Low- and Moderate-Income Households
Understanding employment patterns of different segments of the population—and the extent to which they may be exposed to or impacted by evolving labor market conditions—contributes to a deeper understanding of the economy, in support of the Federal Reserve’s monetary policy goals. Multiple factors influence the landscape of employment opportunities and barriers that can affect an individual’s or community’s experience of and ability to participate in the labor market, from shifts in what kinds of jobs locate where in different regions (and who has access to them) to evolving ...
Journal Article
On-the-Job Exposure to AI Among Lower-Income Workers
To better understand the potential impacts of generative AI (gen AI) on the economy, this analysis uses quantitative methods to assess the extent to which workers are likely to be exposed to AI on the job, paying particular attention to workers in lower-income households, the occupations and industries in which they work, and how exposure varies across different parts of the country. It also draws on qualitative insights to understand how the impacts of AI integration are showing up in real time and how workforce and training organizations, nonprofits, and employers are adapting.
Journal Article
AI Adoption Among Small Businesses: Qualitative Insights from the Small Business Credit Survey
Nearly 40% of small business respondents to the 2024 Small Business Credit Survey (SBCS) reported either using or planning to use artificial intelligence (AI), revealing a rapidly evolving landscape of adoption among the nation’s smaller firms.Sentiments around AI adoption ranged from enthusiasm to opposition. Reported applications of AI among small business respondents were just as varied, spanning both core operations and support functions. Common applications included:-productivity tasks-marketing, social media, and search engine optimization-developing written communications-visuals ...