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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 ...
EITC increases labor force participation among married Black mothers
Research has shown that the Earned Income Tax Credit, the largest of the U.S. antipoverty programs, boosts labor force participation among single mothers. It does not, in the aggregate, have the same effect on married mothers.
Discussion Paper
Director's Welcome
The new Center for Workforce and Economic Opportunity will focus on employment and labor market issues. Director Stuart Andreason discusses the center's objectives in this post.
Discussion Paper
Financing workforce development in a devolutionary era
Workforce development financing has changed significantly over the last 25 years. In 2008, federal funding for the traditional workforce development system was 83 percent lower in real terms than it had been in 1980. As the federal system plays a smaller role in workforce development financing, the job training landscape better represents a "marketplace" where students and job seekers use federal training vouchers and grant and student loan money from various sources, primarily the Higher Education Act's Pell Grant and Federal Student Loan programs. Additionally, increasing volatility in ...
Labor market recovery and wage growth unequal across age groups after pandemic
The COVID-19 pandemic severely depressed U.S. labor force participation. Although the pandemic has eased, people ages 20–24 and those over 55 have been less likely to return to the workforce.