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Discussion Paper
Local Hangovers: How the Housing Boom and Bust Affected Jobs in Metro Areas
What explains why some places suffered particularly severe job losses during the Great Recession? In this post, we extend our recent Current Issues article analyzing regional dimensions of the latest housing cycle and show that metropolitan areas that experienced the biggest housing booms and busts from 2000 to 2008 lost the most jobs during the recession. Not surprisingly, construction activity helps explain the tight link between housing and local job market performance. Given this pattern, we believe that each metro area’s boom-bust experience is likely to continue to influence its ...
SORCE Insights: Expected Impacts of Higher Tariffs and Changes to Immigration Policy
The Cleveland Fed’s Survey of Regional Conditions and Expectations (SORCE) administered in May 2025 asked respondents from across the Fourth District a set of special questions about the potential impacts of higher tariffs and changes to immigration policy on their businesses. This District Data Brief analyzes their responses.