Search Results
Discussion Paper
What Works at Scale? A Framework to Scale Up Workforce Development Programs
Workforce development policymakers have access to a growing catalog of training programs evaluated with rigorous randomized controlled trials. This evidence base identifies programs that work in specific geographic and temporal contexts but may not necessarily work in other contexts or at a scale sufficient to meet regional workforce needs. The author examines a sample of recent randomized controlled trials of workforce development programs and reports to what extent this body of evidence informs policymakers about what works at scale. The author finds that most programs are implemented at a ...
Speech
The regional economic outlook
Remarks by William C. Dudley, President and Chief Executive Officer, New York, New York.
Speech
Creating a Vibrant, Inclusive Economy: Remarks at the Community College of Rhode Island
First, I want to highlight why I wanted to prioritize speaking at a community college like CCRI; and why community colleges, and all of you engaged with them, are so important to our economy and society. Then, I’ll talk briefly about the range of things we do at the Federal Reserve, to advance our mission. And finally, I’ll share some of the lessons I’ve learned from my own career path, in case my experiences may be helpful to you.
Speech
Early Childhood Education: Now More Than Ever
College graduates fare better on a variety of outcomes, but many students who enroll in college do not graduate, particularly low-income and minority students. Research shows that preparation is key to college completion, and that preparation begins with early childhood education. There are disparities in access to high-quality early childhood education that track with disparities in college completion. Pandemic-related child care and school closures risk exacerbating the already-large gaps in educational attainment between children from high- and low-income families.Parents are struggling to ...
Speech
Workforce development and reinvention in the Rochester economy
Remarks before the Rochester Business Alliance, Rochester, New York.
Discussion Paper
What Works at Scale? A Framework to Scale Up Workforce Development Programs
Workforce development policymakers have access to a growing catalog of training programs evaluated with rigorous randomized controlled trials. This evidence base identifies programs that work in specific geographic and temporal contexts but may not necessarily work in other contexts or at a scale sufficient to meet regional workforce needs. The author examines a sample of recent randomized controlled trials of workforce development programs and reports to what extent this body of evidence informs policymakers about what works at scale. The author finds that most programs are implemented at a ...
Discussion Paper
Job Training Mismatch and the COVID-19 Recovery: A Cautionary Note from the Great Recession
Displaced workers have been shown to endure persistent losses years beyond their initial job separation events. These losses are especially amplified during recessions. (1) One explanation for greater persistence in downturns relative to booms, is that firms and industries on the margin of structural change permanently shift the types of tasks and occupations demanded after a large negative shock (Aghion et al. (2005)), but these new occupations do not match the stock of human capital held by those currently displaced. In response to COVID-19, firms with products and services that complement ...
How valuable is a short-term credential for a job seeker? It’s complicated
Employer demand for short-term credentials is rising. But the likelihood of such credentials leading to higher wage offers depends on the industry and can change over time.
Speech
What Happens to Young Workers?
I’m hesitant to make a strong prediction about which jobs will disappear or which will grow once we’ve weathered the pandemic. After all, in the wake of 9/11, people thought we’d never travel again, and then we did. But it seems quite possible that — even with a vaccine or treatment — we will be in a world where highly exposed personal service sectors, such as restaurants, retail, and entertainment, continue to operate at reduced capacity, which would mean fewer jobs in those sectors. That leads me to ask, who works in these jobs, and what happens to them if some percentage of them ...
Discussion Paper
Mitigating Benefits Cliffs for Low-Income Families: District of Columbia Career Mobility Action Plan as a Case Study
The structure of the United States social safety net features the phaseout of public assistance as household income increases, which functions as an effective marginal tax on wage gains and is commonly referred to as a "benefits cliff." This presents a disincentive for some low-income workers, especially those with children, to accept higher-paying jobs or promotions. Workforce development programs focused on helping low-income workers must contend with the challenges that benefits cliffs present to the career advancement of their clients. In this paper, we describe the overall structure of ...