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Journal Article
Spotlight on Research: Early Labor Experiences of Young Men: Underlying Factors and Later Consequences
Unemployment has deleterious effects on the overall health of the economy. Also, unemployment is debilitating to those experiencing it. For young entrants into the labor force, their early employment/unemployment experiences may be especially critical to their later labor market success. Thus, the initial transition-to-work period may foretell future employment status and wages/income. This is a particularly crucial juncture for young minority males who generally experience high rates of unemployment. Conventional wisdom suggests that higher educational attainment plays a prominent role in ...
Speech
Healthy Workforce, Healthy Economy
Remarks at Combating Food Insecurity: What’s Working – and What’s Scalable? (delivered via videoconference.
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.
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 ...
Discussion Paper
Creating a STEM Employment Pipeline in Eastern North Carolina Schools
The communities of eastern North Carolina are working to develop and maintain a workforce that will support existing employers and attract additional STEM industries to the region. NC East Alliance, an economic development organization representing 29 counties, is partnering with 29 school districts and 14 community colleges to train students in the skills needed for possible jobs in those fields.
Journal Article
Learning in the Fast Lane
Dale Phillips, a night-shift maintenance supervisor at BMW's plant in Spartanburg, S.C., is busy balancing a full-time job with online coursework to complete a bachelor's degree in management. He oversees a team of equipment-services associates in the plant's paint shop, whose duties include preventing equipment breakdowns in the conveyors, lifts, pumps, and industrial robots. He says he never envisioned such a career until four years ago, when he started at the plant as an apprentice after spending most of his 20s and 30s as a grocery store manager.
Journal Article
Housing the Workforce in the Rural Fifth District
Although real estate is often less costly in rural areas than in urban areas, many low- and middle-income households in rural areas struggle with housing expense. There are multiple reasons why rural households end up financially constrained by housing costs. First, incomes tend to be lower in rural areas. Second, there are limited available units — multifamily or single family — in rural areas for reasons that reflect the unique challenges of the rural housing landscape.
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.
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.