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‘They’re in Deep Hiding’: Pandemic Hinders Efforts to Reengage Texas’ Disconnected Youth
Education and employment trends suggest that the number of 16–24-year-olds disconnected from both work and school—known as opportunity youth—has grown during the pandemic.
Journal Article
Apprenticeships and Their Potential in the U.S.
Government, foundation, and workforce leaders are displaying keen interest in apprenticeships as a way to give job seekers skills, credentials, and access to careers. This increased interest is also part of the greater attention to workforce development strategies that engage employers. Apprenticeships have a long history with roots in ancient times. The Code of Hammurabi of Babylon, which dates back to the 18th century bce, required artisans to teach their crafts to the next generation. By the 13th century, a type of apprenticeship emerged in Western Europe in the form of craft guilds.1 In ...
Speech
The regional economic outlook
Remarks by William C. Dudley, President and Chief Executive Officer, New York, New York.
Did expanded Child Tax Credit enable parents in financially vulnerable households to work during pandemic?
Social scientists have found in some instances that safety-net programs sometimes reduce recipients’ incentive to work and thereby provide a headwind to U.S. economic growth.
Speech
Investing in America’s Workforce Book Launch
Business must "start viewing workforce development as an investment, rather than a social service," said Philadelphia Fed President Patrick Harker in his remarks today. He was speaking at the launch of Investing in America's Workforce: Improving Outcomes for Workers and Employers, a book based on Federal Reserve System research.
Discussion Paper
Opportunity Occupations: Well-Paying Jobs for Middle-Skill Workers
Did you know that only 29.7 percent of Americans over the age of 25 have attained a four-year college degree? Given many policymakers' focus on increasing the share of individuals who attain a degree, that may sound like a surprisingly low number. It leaves a large group of American workers who do not have a four-year degree and lack the means or desire to obtain one in the current labor market. In fact, "middle-skill" Americans, defined as those who have obtained their high school diploma but not a four-year college degree, comprise some 57 percent of the country's total population of those ...
Discussion Paper
Benefits Cliffs and the Financial Incentives for Career Advancement: A Case Study of the Health Care Services Career Pathway
Benefits cliffs, which occur when earnings gains are offset by the loss of public benefits, have long been recognized to create financial disincentives for low-income individuals to earn more income. In this paper, the authors develop a new methodology to study benefits cliffs in the context of career advancement. The authors illustrate the change in net financial resources for an individual pursuing the health care services career pathway from certified nursing assistant (CNA) to licensed practical nurse (LPN) to registered nurse (RN). Accounting for increases in taxes and the loss of public ...
Partnership Emphasizes Education to Make Permian Basin a Better Place to Live
As a participant in the Dallas Fed's Advance Together initiative, the Education Partnership of the Permian Basin is accelerating a collective approach to addressing education, workforce and quality-of-life needs.
Discussion Paper
Results From the Survey of Community College Outcomes Extended Pilot
After three years of developing partnerships with community colleges across the Fifth District, we are proud to release our first-year results from our extended pilot of the Survey of Community College Outcomes.When the Richmond Fed launched this initiative, the most common question we heard from community colleges was, "Why does the Richmond Fed care about community colleges?" The answer is that the Richmond Fed cares about workforce development, and community colleges play a vital role across the Fifth District providing individuals with the skills needed to participate in the workforce.
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 ...