Search Results
What Can Geolocation Data Tell Us About Childcare Use and Accessibility?
In the U.S., many parents of young children may not have enough childcare providers near them, which may limit not only their childcare access but also their employment opportunities. In this article, we explore how data on people’s visiting patterns to childcare providers might help inform our understanding of the geographic distances between where families live and where providers operate, as well as how these distances and the capacity of providers can affect childcare access. Our research is part of the Chicago Fed’s Spotlight on Childcare and the Labor Market, a targeted effort to ...
Seventh District Midyear Review: Economic Growth Continued to Be Solid in the First Half of 2024
Overall, economic growth was steady during the first half of 2024 in both the nation and the Seventh Federal Reserve District.1 Real gross domestic product (GDP) growth slowed some in both, but employment growth was up, especially in the District. Over the last few years, the District has almost always lagged the nation in both real GDP and employment growth, continuing a decade-long trend. Slower growth and slower inflation often go hand in hand, and recent data indicate inflation has indeed been somewhat lower in the Midwest.
What Region Looks Most Like the U.S. as a Whole?
The United States is a diverse country, whether you’re looking at its economic, population, or environmental (i.e., topographic and weather) characteristics. Some places are growing quickly; others, slowly. Some are home to large numbers of computer programmers; others, just a few ranchers. Some are hot and dry; others, cold and wet. The U.S. is also a large country, with regions that themselves are the size of some countries. While these regions all share in major U.S. trends like recessions and an aging population, some regions track national trends more closely than others.
How Is the Challenge of Finding Childcare Affecting Labor Force Participation? Perspectives from Employers Across the Seventh District
Through the Chicago Fed Survey of Economic Conditions (CFSEC) and during roundtable discussions with business, nonprofit, and government leaders, the Chicago Fed asked employers from a variety of sectors for their perspectives on how childcare access has affected labor force availability.1 These survey and roundtable findings contribute to the Chicago Fed’s Spotlight on Childcare—an effort to increase our understanding of how the lack of access to childcare impedes labor force participation in the Seventh Federal Reserve District. In this article, we summarize the responses from over 100 ...
Speech
The economic outlook and monetary policy
Lehigh Valley Partnership and Lehigh Valley Economic Development Corporation. Allentown, PA. President Charles Plosser gives his views on the regional and national economy and discusses why he remains optimistic about the economic outlook. He also shares his thoughts about monetary policy and explains why he departed from the majority view at the July and September FOMC meetings.
How Do Manufacturers Decide When to Invest in New Equipment?
Although purchasing more and better capital leads to higher productivity, explanations for when and why firms choose to adopt new technology are not straightforward. In this article, we shed some light on how manufacturers choose to adopt new technology by purchasing equipment. The decision can be complicated, so we surveyed manufacturers to get insights into how they approach it. We find that the top two reasons manufacturers invest in new equipment with advanced technology is to keep up with competitors and save on labor costs. But upgrading is not always an obvious choice. Manufacturers ...
Identifying Information Gaps to Help Communities Navigate Lead Service Line Replacement
In response to state and federal policy changes, communities across the United States have been developing strategies to undertake the large-scale and complex process of replacing millions of lead service lines (LSLs). These lead pipes supply drinking water to homes and risk exposing households to lead, which can have long-term repercussions for a child’s development and cause chronic health issues in an adult. The challenge of replacing LSLs is felt acutely in the heart of the Midwest—home to the Federal Reserve Bank of Chicago’s Seventh District, which comprises all of Iowa and most ...
Community Development Snapshot: Working Alongside Rural Communities to Expand Housing Opportunity
The number of cost-burdened renters—those spending over 30% of their income on housing—has reached an all-time high. This trend is reflected in many communities across the Seventh Federal Reserve District: Renters in urban centers, such as Chicago, Detroit, and Milwaukee, as well as those in rural areas, face increasing rent costs that outpace wage growth.1 In many of these places, affordable housing supply remains limited, while demand continues to grow, exacerbating housing insecurity and reinforcing the need for inclusive housing solutions.
Building Momentum in Northeast Wisconsin to Improve Access to Childcare
As part of the Chicago Fed’s Spotlight on Childcare and the Labor Market, I reached out to community contacts in Wisconsin to hear perspectives on childcare access within the state. I learned that there is an emerging ecosystem of cross-sector partners who are coming together to address childcare challenges in Northeast Wisconsin. These organizations report that coming out of the Covid-19 pandemic, access to childcare in Northeast Wisconsin has become more difficult for working parents in terms of affordability and availability. The Greater Fox Valley Child Care Alliance, which is focused ...
Discussion Paper
How Colleges and Universities Can Help Their Local Economies
Policymakers are increasingly viewing colleges and universities as important engines of growth for their local areas. In addition to having direct economic impacts, these institutions help to raise the skills of an area’s workforce (its local “human capital”), and they do this in two ways. First, by educating potential workers, they increase the supply of human capital in a region. Perhaps less obviously, these schools can also raise a region’s demand for human capital by helping local businesses create jobs for skilled workers. In this post, we draw on our recent academic research ...