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Journal Article
District Digest: Community Colleges as Anchor Institutions in Rural Areas
The Fifth Federal Reserve District — comprising Maryland, North Carolina, South Carolina, Virginia, most of West Virginia, and Washington, D.C. — is home to 122 public two-year institutions that have a wide range of both traditional academic and technical programs. More than half of these community colleges are located in rural counties. The 66 rural community colleges, like the private and public four-year institutions of higher education in rural areas, play an anchor institution role in their communities. But this role is not always accounted for in the formulas that federal, state, ...
Discussion Paper
Non-Credit Workforce Programs at Community Colleges
Community colleges differ from four-year institutions in key ways, including how programs are distributed across credit and non-credit academic divisions. While nearly all enrolled students at four-year institutions are in for-credit programs, community college students are much more likely to be in non-credit programs, which are shorter in term and typically focus on skills and credentials that are tied to specific occupations.A growing number of community college students are enrolled in non-credit programs across the Fifth District, but traditional data sources do not capture information ...
Discussion Paper
Interpreting Unemployment Data in the Time of COVID-19
Policy changes and the unique nature of the COVID-19 pandemic may impact the way labor market health is evaluated going forward.
Discussion Paper
Creating a STEM Employment Pipeline in Eastern North Carolina Schools
The communities of eastern North Carolina are working to develop and maintain a workforce that will support existing employers and attract additional STEM industries to the region. NC East Alliance, an economic development organization representing 29 counties, is partnering with 29 school districts and 14 community colleges to train students in the skills needed for possible jobs in those fields.
Discussion Paper
Pell Grants and Community College Success: Improving Metrics via our Community College Survey
Community colleges play a key role in economic development and workforce training. Yet measuring the success of community colleges has long been a challenging task due to data quality issues and the complicated array of programs offered. Recently, the Richmond Fed embarked on creating a survey tool to improve the data that are available on Fifth District community colleges.
Discussion Paper
Unfinished Business? A Closer Look at the "Some College, No Degree" Population
Higher levels of education are, on aggregate, associated with increased employment, higher wages, and better health outcomes. However, nearly 40 percent of those who enroll in higher education never complete, often leaving them with student loan debt, lost wages from time spent in college, and no benefit of the earnings premium associated with degree attainment. These so-called "some college, no degree" (SCND) students may find the path to employment difficult or reach a wage ceiling quickly in the labor market. A recent report from the National Student Clearinghouse (NSC) finds that as of ...
Discussion Paper
State Labor Market Update: January 2024 Data Release
This article covers the latest state-level employment data release from the Bureau of Labor Statistics, written by our team of regional economists. The summaries for each state are attributed accordingly below so that any quotes drawn from this article can be properly credited. Data used for this article are at the time of writing and are subject to future revisions by the BLS.
Discussion Paper
The Higher Education Emergency Relief Fund (HEERF) and Its Impact on Fifth District Community Colleges
As part of the various government stimulus programs in response to the COVID-19 pandemic, institutions of higher education received a total of $77 billion via the Higher Education Emergency Relief Fund (HEERF). HEERF included funds for a broad array of higher education programs, but most funds were allotted for direct student support and for institutional purposes.The CARES Act and the American Rescue Plan required that at least 50 percent of a college or university's HEERF allotment be given to students in the form of direct grants. The Coronavirus Response and Relief Supplemental ...
Discussion Paper
Second-Chance Hiring: Fifth District Efforts to Improve Post-Incarceration Outcomes
In the current economy, where job postings significantly exceed the number of people actively seeking employment, previously incarcerated individuals represent an important source of labor that both states and institutions are increasingly interested in engaging. Successfully implementing second-chance hiring initiatives, in which companies hire individuals with criminal records, can help improve outcomes for previously incarcerated individuals, the companies they work for, and their communities.