Economic and Workforce Development

Recovering from an emergency event is accomplished in phases—and with many hands. Seeing the many pressing needs of the area, one eastern Kentucky nonprofit realized that more staffing was part of the solution and took action.

To achieve digitally inclusive communities, one must consider both access to and affordability of broadband. This program can help with both.

This summer, the Cleveland Fed held its first listening session to hear perspectives from workers—particularly low-wage workers and workers of color. The biggest takeaway? Job quality—not just a paycheck—is more important than ever.

Workers in the highest-quality jobs are more likely to remain in those jobs and less likely to be unemployed or leave the labor force. The opposite is true for workers in the lowest-quality jobs. This analysis adds to a growing body of research about job quality and shows that it is an important dimension of the labor market to consider.

The size of the US labor force declined by 2.3 million people between December 2019 and December 2021. Our experts examine demographic changes to determine if this decline is a passing trend or if it’s here to stay.

Getting a raise is usually a good thing. But what if it comes at the cost of losing a benefit that you rely on? Here’s what some organizations are doing to help workers navigate the path to economic independence.

Manufacturing jobs have long been associated with good wages. While some manufacturing workers still enjoy relatively high wages, the premium for workers on the factory floor has shrunk dramatically. Why? And what does it mean for workforce policy?

Though the pandemic has put the spotlight on the issue of limited broadband access in some regions, the Federal Reserve System has been studying it for years. Recent analyses explore the relationship between broadband access and labor market outcomes.

Generally, a high job-access rate has a positive impact on employment; that is, in areas where jobs are easier to reach, employment rates are usually higher. But this isn’t true for the Cleveland metro area. In fact, we see the reverse: Neighborhoods with high rates of job access tend to have low employment rates, and neighborhoods with low rates of job access tend to have high employment rates.

Is specializing in an industry the way to economic success or the road to economic challenges for rural communities? It depends on the community’s resilience.

Communities know what improvements they need, but many lack resources or infrastructure to act. This policy tool, and an example of where it is working, can help communities put solutions into action.