Search Results
Speech
New York City Is Alive
Remarks at the Future of New York City: Focus on Jobs, Federal Reserve Bank of New York, New York City.
Who Holds a Green Card?
Understanding the characteristics of U.S. permanent residents can provide insight into the future workforce.
Firms Start with Fewer Employees over Last 25 Years
The average new firm that is less than a year old had 20% fewer workers in 2019 than it did in 1994.
Speech
Apprenticeships: Nobility and Necessity
Apprenticeships date back to ancient times, but they remain relevant in today?s economy, Philadelphia Fed President Patrick Harker told the audience at the Bank?s Apprenticeship Conference on July 11. Apprenticeships help workers acquire the skills now in demand, he said
Speech
The Singularity of the Dual Mandate
Presentation at Boise State University, Boise, Idaho, September 29, 2022, by Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco.
Working Paper
The Rise of AI Pricing: Trends, Driving Forces, and Implications for Firm Performance
We document key stylized facts about the time-series trends and cross-sectional distributions of AI pricing and study its implications for firm performance, both on average and conditional on monetary policy shocks. We use the universe of online job posting data from Lightcast to measure the adoption of AI pricing. We infer that a firm is adopting AI pricing if it posts a job opening that requires AI-related skills and contains the keyword “pricing.” At the aggregate level, the share of AI-pricing jobs in all pricing jobs has increased by more than tenfold since 2010. The increase in ...
Journal Article
Post-Pandemic Activity Rebounds, but Many Remain Outside the Labor Force
Jobs are returning, but the pandemic has accelerated longtime trends by knocking millions of people out of the labor force.
Journal Article
The Singularity of the Dual Mandate
Economic security depends on both jobs and stable prices. Together, these two congressionally mandated goals constitute the Fed’s dual mandate. This mandate is not a choice between two desirable things. It is a balance meant to deliver on a singular goal—a sustainable and expanding economy that works for everyone.
Journal Article
Did the Great Recession Increase Skill Requirements?
Research Spotlight on "Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings." Brad Hershbein and Lisa B. Kahn. American Economic Review, July 2018, vol. 108, no. 7, pp. 1737-1772.
Report
Missed Connections in Cleveland: The Disconnect Between Job Access and Employment
The job access rate refers to the share of jobs in a region that can be reached within a typical commute distance or time. Job access rates in Northeast Ohio have declined continuously since 2000, as employment opportunities and the population have spread farther out (Kneebone and Holmes, 2015; Pacetti, Murray, and Hartman, 2016; Fee, 2020). Declining access to jobs has made it increasingly difficult for workers to reach their workplaces via public transportation, disproportionately impacting Black and economically distressed residents (Barkley and Pereira, 2015; Brown and McShepard, 2016).