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Speech
An Economic Outlook
Philadelphia Fed President Patrick Harker gave an economic outlook and focused on skills and the workforce to the Jewish Business Network in Philadelphia. Harker said that employers struggle to fill high-skilled jobs, which are less likely to be automated. ?The reality of the tight labor market means that employers have to start thinking creatively and long term about how they?re going to address the gap between the skills they want and need and those available in the labor pool,? he said.
Speech
Unrealized gains: investing in our region's economic and human capital potential
President Patrick T. Harker discusses investing in our region?s economic and human capital potential at Capital for Communities: Pay for Success Financing, a conference hosted by the Philadelphia Fed's Community Development Studies & Education Department.
Journal Article
Seventh District Workforce Development Programs That Serve Marginalized and Disadvantaged Populations
In 2011, the Community Development and Policy Studies (CDPS) division of the Federal Reserve Bank of Chicago launched the Industrial Cities Initiative (ICI) to take a close look at 10 former industrial/manufacturing hubs and their economic evolution over the last 50 years.
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.
How Do Firms Differ in Rich and Poor Countries?
Firms in countries with high GDP per capita tend to have larger and more highly educated workforces and to be organized differently than firms in poor countries.
Journal Article
Investing in Healthy Communities: Ideas to Action for Healthy People, Places, and Planet - A Conference Summary
The Wisconsin Rapids event was the third in a Wisconsin series and built on earlier events in Milwaukee (December 2014)2 and Platteville (July 2015)3. Co-sponsored by the Federal Reserve Bank of Chicago and local leaders, the earlier conferences highlighted the connections between health, community development, and economic development in urban and rural communities, as well as the opportunities for these fields to improve outcomes by working together. This third conference focused on the role of investing to build healthy communities, including how financial investments by banks and socially ...
Journal Article
From Classroom to Career: An Overview of Current Workforce Development Trends, Issues and Initiatives
Earlier this year, Community Development and Policy Studies (CDPS) staff at the Federal Reserve Bank of Chicago released a report on its Industrial Cities Initiative (ICI).[1] The report features a quantitative assessment of ten Midwestern “industrial cities” that is augmented by more than 175 interviews with city leadership. The report explores whether – and to what extent – these cities have been able to withstand a decline in manufacturing employment since the 1960s. Workforce development was the most common and ...
Journal Article
Workforce 2020: Is It Time for Disruptive Innovation?
Whether framed as a gap, a shortage or a mismatch, skill problems drive discussions around workforce and education policy today. Employers say they are not getting qualified candidates from educational institutions; unions and workforce advocates say that if employers looked harder and offered increased wages and improved benefits, qualified workers could be found. At the same time, community colleges and vocational training centers say that rapid changes in technology make it cost-prohibitive to buy the latest machines and training tools. Aspiring workers say they are unaware of the ...