The path of wage growth and unemployment
After the Great Recession, the fraction of U.S. workers whose wages were frozen reached a record high. Many employers would have preferred to cut wages, but couldn?t do so because of the reluctance of workers to accept reduced compensation. These pent-up wage cuts initially propped up wage growth, reduced hiring, and pushed up unemployment. But, over the past 2 years, inflation has eroded the real value of frozen wages, slowing wage growth and reducing the unemployment rate. This is similar to, but more pronounced than, the pattern observed in past recessions.
Profile of a recession - the U.S. and California
Labor market effects of welfare reform
East Asia's impact on regional growth in California
Who has benefited from California's recovery?
Ambassadors of Hope
Virtual Presentation at The Preuss School Graduation by Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco, Thursday June 18, 2020
Technology, productivity, and public policy
This Economic Letter summarizes papers presented at the conference "Technology, Productivity, and Public Policy" held at the Federal Reserve Bank of San Francisco on November 7-8, 2003. The conference was the inaugural event of the new Center for the Study of Innovation and Productivity (CSIP), which is organized within the Economic Research Department of the Bank.
Becoming Owners: The Business Case for Customer-Centered Banking
Remarks at Symposium on Asian Banking and Finance, Singapore, Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco, June 3, 2019.