Explore contemporary research, best practices and resources in the Federal Reserve System’s new book, Investing in America's Workforce: Improving Outcomes for Workers and Employers. Over 70 essays from more than 100 authors examine workforce development as an investment that provides returns to workers, businesses and their communities. The book is divided into three volumes: Investing in Workers, Investing in Work, and Investing in Systems for Employment Opportunity.
The quality of lower-wage, frontline jobs has a direct impact on employee participation, engagement and productivity. Explore investments, strategies and policies that can improve outcomes businesses and their workers.
This resource provides banks – and organizations interested in partnering with them – information on how the Community Reinvestment Act can be leveraged to support workforce development goals.
Transforming U.S. Workforce Development Policies for the 21st Century explores how new policies and practice can meet the changing needs of workers, businesses and their communities.
A Federal Reserve System initiative called “Opportunity Occupations” examines the impact of jobs that don’t require a four-year college degree and typically pay above the national annual median wage of $37,690.
Women, especially those without a college degree, have taken a bigger hit in the first wave of job losses due to the pandemic. This imbalance could lead to prolonged damage to women’s employment and labor market attachment if job losses deepen and persist.
The St. Louis Fed explores how workers’ financial resilience and retirement security can be improved by the SECURE Act and four additional policy actions.
Cleveland Fed researchers use flows into and out of unemployment to provide an alternative estimate the unemployment rate over the next year.
This podcast with the St. Louis Fed’s Center for Household Financial Stability discuss indicators of financial resilience of households and how they may withstand shocks such as job loss.
The Atlanta Fed’s interactive Unemployment Claims Monitor provides current data on initial and continued claims for unemployment insurance as well as claimants' demographic data.
Stuart Andreason of the Atlanta Fed discusses options to create a better marriage between the workforce development and unemployment insurance systems to expedite the path to reemployment for individuals affected by the recent economic slowdown.
Learn about the effects of remote work policies, Short-Time Compensation programs, and other policies to support workers facing reduced hours and potential layoffs.
The labor market effects of the COVID-19 pandemic are tracked with real-time weekly payroll employment data to track both aggregate and industry effects.
The Atlanta Fed launches a comprehensive initiative on addressing the impact of benefits cliffs on low-income individuals and their incentives to enroll in training for a higher-paying job, work more hours, or advance in their career.
The St. Louis Fed discusses the difficulties employers face in finding skilled workers, as well as challenges workers confront when “upskilling” themselves for jobs that complement (but don’t compete with) automation.
The Philly Fed uses data from online job ads to understand how employers can improve their ability to fill open job positions.
Researchers from the Philly Fed identify the occupations that are most likely to be negatively affected by social distancing practices and then describe the characteristics of the workers holding those jobs.
Benefits Cliffs and the Financial Incentives for Career Advancement: A Case Study of a Health Care Career Pathway
The financial disincentives to career advancement caused by benefits cliffs, which occur when earnings gains are offset by the loss of means-tested public benefits, are explored by researchers from the Atlanta Fed. Two policy interventions are discussed.
New ideas help align two systems: Why is there a disconnect between economic development and workforce systems?
This special brief explores the alignment of economic development and workforce development systems to better foster economic growth and ensure individuals have the education, skills and training needed to meet labor needs.
Through the period of 2008 (during the recession) to 2011, 5.7 million prime-age individuals—men and women—lost their jobs, and the overall participation rate has not fully recovered. College-educated women overall have fared better than other prime-age workers.
Esther George delivered remarks demographic trends are reshaping the U.S. labor force in July at a forum on “the Silver Economy” in Helsinki, Finland.
Demand for Digital Skills Rising: Whether New or Seasoned, Workers Face Increased Need to Keep Current
This special topic brief, recently released as part of the Investing in America’s Workforce (IAW) initiative, explores what challenges and innovative strategies have been used to prepare workers with digital skills for 21st-century jobs.
Opportunity Occupations: Leveraging Jobs that Pay a Good Wage without Requiring a Four-Year College Degree
This mother of three didn't need a four-year degree to land her job and improve her family's life. Learn Jaime's story in this video.
Saturday night, my son will be attending his first high school prom. A junior, he is starting to hear his friends talk about the big decisions that come with the end of school in May. “What are you planning to do next?”
Too often the answer is college, if only by default. With national completion rates hovering around 60 percent and the rising concern about burdensome student debt, it is time to reconsider the options.
Explore opportunities for rural investments that address issues of labor demand and supply in this special topic brief from the Investing in America’s Workforce initiative.
Steve Shepelwich, a Federal Reserve Bank of Kansas City senior community development advisor, discussed the Federal Reserve System’s new book on workforce development.
Research by the San Francisco Fed suggests that policy interventions to reduce the structural barriers that keep many women on the sidelines could bring millions of prime-age Americans into the labor force.
At a book launch for Investing in America’s Workforce: Improving Outcomes for Workers and Employers, Harker discussed the overarching theme, “that everyone involved in workforce development should start thinking like investors looking for long-term rewards, rather than lenders thinking only about short-term risks.”
President Williams discusses the importance of workforce development for sustainable economic growth and example policies and programs.
Essential Skills Training for Workforce Staff Launched
Black Women Business StartupsSelf-employment is one path to employment. This report by Dell Gines draws lessons from black women business owners, their characteristics and the challenges they face.
The challenges workers face in making a living through their work today and practical approaches that governments, businesses, nonprofits and other civic actors can take to improve the quality of jobs for all who work are detailed by Maureen Conway of the Aspen Institute in this advance chapter from the Federal Reserve’s forthcoming book Investing in America’s Workforce: Improving Outcomes for Workers and Employers.
Regional collaborations of businesses, from the same industry and in a shared labor market region, that work with education, workforce development, economic development and community organizations to address workforce development needs are examined through five case studies.
The need for paid family and medical leave programs and the impact they have on businesses, the economy, and the health and well-being of low- and moderate-income workers is explored in the brief from the Boston Fed.
The Kansas City Fed Labor Market Conditions Indicators (LMCI) suggest the level of activity increased modestly and momentum remained high in March. An increase in job leavers made the greatest contributed to activity in the period.
A new estimate of the natural rate of unemployment in the United States that accounts for changes in the age, sex, and skill composition of the labor force is explored by Kansas City Fed economist Didem Tuzeman.
The responses of small firms to difficulties in finding workers are examined with new data from the Federal Reserve Bank’s 2017 Small Business Credit Survey. Implications for workforce development practitioners and policymakers are explored.
Learn how banks and organizations partnering with them can play an important role in workforce development and the economic health of low- and moderate-income communities in this two-part webinar series.
Learn how banks and organizations partnering with them can play an important role in workforce development and the economic health of low- and moderate-income communities in this two-part webinar series.
Reasons for low labor force participation during periods of tight labor markets and employability programs are explored in this edition of the Kansas City’s biannual review of economic conditions in LMI communities.
The drivers and potential consequences of the decline in prime-age men’s participation in the labor market, due in part to job polarization, are explored in this Kansas City Fed Economic Review article.
This interactive data tool from the Atlanta Fed identifies well-paying jobs across various educational requirement levels in states and metro areas to help identify employment offering livable wages.
The Philadelphia Fed summarizes innovative activities from banks’ Community Reinvestment Act (CRA) performance evaluations in workforce development and other areas of community development.
Governor Brainard gains first-hand look at a Kansas City workforce development initiative to create industry-informed job training programs in the information technology field.
The Atlanta Fed launches new Center for Workforce and Economic Opportunity (CWEO) to make Federal Reserve System resources related to the labor market, employment opportunities, and workforce development accessible to researchers, businesses, and policymakers.
This Federal Reserve System report analyzes information gathered from nearly 1,000 leaders who work at the intersection of workforce training, recruitment, and finance. The study provides a snapshot of the workforce development sector and its key challenges. It offers strategies for improving the human capital of America’s labor force, expanding access to jobs, and innovating workforce development funding.
The goals and activities of the Federal Reserve System’s national workforce initiative are described in this overview article.
Many respondents in the latest Tenth District LMI Economic Conditions Report commented that ample jobs were available in their areas for LMI workers but that wages were very low and insufficient to support an individual or family—a common ongoing refrain in survey responses.
Governor Brainard discussed the impact of labor market disparities on monetary policy and initiatives aimed at understanding economic disparities and how to foster more-inclusive growth at the Kansas City Fed’s "Banking and the Economy: A Forum for Minority Bankers."
Josh Davies, chief executive officer of The Center for Work Ethic Development, engaged with Oklahoma educators and employers to discuss the core behaviors that define work ethic and soft skills and research-based methods for integrating work ethic development into training and work settings.
Wage growth for workers in the United States has accelerated gradually in the past two years, and a few industries are responsible for the surge.
Vice Chairman Fischer discusses the impact of labor productivity on economic growth and policy options for improving innovation, investments and labor quality.
This new workforce initiative by the Federal Reserve System and its partners aims to connect businesses, government, nonprofit, and philanthropic organizations to rethink policy and investments, attract new resources, and improve economic mobility for workers. Save the date for the Capstone Conference to be held October 4–6, in Austin, TX. Sign up at www.investinwork.org for updates and to be the first to hear when conference registration opens.
One of the driving forces behind the increase in the labor force participation rate is older workers remaining on the job. The reasons vary for their extended stay, but their presence is an important element in understanding current labor conditions.
Listen to experts from the Federal Reserve, the City University of New York (CUNY), and the Aspen Institute in in this edition of the Connecting Communities webinar explore findings from the recent Federal Reserve report on young workers and the labor market which provides a snapshot of the educational attainment, employment experience, job market outlook and financial self-sufficiency of 18- to 30-year-olds.
Broad indicators are often used to evaluate the health of the labor market but may mask disparities in outcomes across age, education, gender, and race. This paper summarizes work the research staff of the Federal Reserve Bank of Kansas City has done to better understand differences in labor market outcomes. Some of these findings reinforce earlier work, while others offer novel perspectives.
Advances in technology are fundamentally shifting the demand for labor toward workers who have significant skills. As a result, great potential exists for workers and employers develop more and better career-based training for many middle-skilled positions. Learn of new approaches to developing such training programs in the recently released Atlanta Fed ebook, Developing Career-Based Training.
This paper from the San Francisco Fed summarizes existing research on the topic of underemployment, discusses themes that surfaced during the locally focused meetings, and proposes ways to address the underlying causes through solutions that build on the interrelated nature of housing, jobs, transportation and child care.
Most indicators of economic and financial conditions in the LMI community have rebounded from the previous survey, but more consistent improvement is needed to make a definitive judgment on the long-term trend of LMI economic conditions.
Chair Yellen reviews workforce development initiatives and their importance given the significant job market changes in recent years, brought about by global competition and technological advances, and the new and shifting skills that these changes demand.
Banks can play an important role in building a strong workforce for their local economy. A new resource from the Federal Reserve Banks of Dallas and Kansas City, Engaging Workforce Development: A Framework for Meeting CRA Obligations, provides banks, and organizations interested in partnering with them, information and tools to engage in workforce development activities.
Jonathan Willis of the Kansas City Fed finds that although the share of workers employed part time for economic reasons has declined, it is unlikely to return to its pre-recession level in the near future.
The Dallas Fed explores how regional workforce development systems can connect lower-skilled workers to opportunities for advancement in a changing labor market.
The Kansas City Fed discusses how an employer-led national collaboration of health care leaders promotes employer investment in the skill and career development of frontline health care workers.
The experiences and expectations of 18- to 30-year-old Americans entering the labor market are explored in this research report from the Federal Reserve’s Board of Governors.
The New York Fed hosted “The Evolution of Work,” a conference to explore how the nature of work is evolving, including the expanding role of technology, shifts in employee work arrangements and employer-employee relationships, and the effects of these changes on workforce and community development strategies. Governor Brainard provided a speech on the implications of the growth of contingent work. The conference was co-sponsored by the Board of Governors of the Federal Reserve System and the Freelancers Union.
Kansas City Fed economists find that the recent increase in labor force participation is not due to more workers entering the labor force, but to fewer workers exiting it.
Steven Dawson discusses opportunities for improving job quality and economic opportunities for lower-wage workers grounded in his current work as a Visiting Fellow at The Pinkerton Foundation and consultant with workforce development practitioners and funders.
Building Ladders and Raising the Floor: Improving Employment and Economic Opportunities for Frontline Workers
The Kansas City Fed, in partnership with the Aspen Institute's Economic Opportunities Program, hosted a discussion of the importance and advantages to both workers and employers for shifting our employment and workforce strategies to focus on "building ladders and raising the floor." See videos from the forum here.
This paper from the San Francisco Fed explores the issue of underemployment and its impact on lower-income households and communities.
The New York Fed and Boston Fed explored how the Community Reinvestment Act (CRA) and Workforce Innovation and Opportunity Act (WOIA) serve as unique opportunities for financial institutions and workforce entities to explore mutual goals and develop partnerships.
The evolving practice of two-generation strategies for leveraging workforce development, education and social services to move families out of poverty was discussed at the Exploring Financial Resiliency and Mobility Conference.
Federal Reserve officials meet with the Center for Popular Democracy's Fed Up campaign in Jackson Hole, Wyoming to discuss its members’ challenges in the labor market and other issues.
Addressing Employment Needs through Sector Partnerships: Case studies from across the Federal Reserve's Fourth District
Five sector-based partnerships are explored in this set of case studies from the Cleveland Fed.
After a long stretch of declines since the Great Recession, labor force participation has risen in recent months, mainly due to an increase in highly educated workers re-entering the workforce.
The Boston Fed profiles an initiative that supports upward social and economic mobility of Greater Boston’s low- and moderate-income youth.
The Philadelphia Fed explores workforce development strategies, including apprenticeships, and financial capability, in its Summer edition of Cascade.
New interagency guidance on the CRA clarifies workforce development, job creation and economic development activities.
My Future, MyRA
Retirement options expand for workers with this individual retirement savings account.
The Kansas City Fed sponsored an opening plenary session on strategies for improving the employment outcomes of lower-wage, frontline workers at Oklahoma’s annual workforce conference. Vickie Choitz of the Aspen Institute provided an overview presentation of the rationale and strategies for improving job quality. Panelists from The SOURCE, Chicagoland Workforce Funder Alliance and High Plains Community Health Center discussed their experiences in improving job quality and its effects on workers and employers.
New research from the Atlanta Fed explores several promising alternative financing models for workforce development programs, such as social impact bonds and income-share agreements.
Moving Sectoral & Career Pathway Strategies from Promise to Scale: A Policy and Practice Lecture sponsored by the Oklahoma Department of Human Services and the Federal Reserve Bank of Kansas City
Dr. Chris King, senior research scientist at the University of Texas at Austin’s Ray Marshall Center, presented a framework for understanding the challenges faced by career pathways strategies and options for appropriate policy and practice innovations based on a chapter he authored in Transforming U.S. Workforce Development Policies for the 21st Century.
Many communities are developing effective strategies to address common challenges in local workforce development through partnerships with traditional and nontraditional organizations. These partnerships are examined in the Atlanta Fed’s recently released electronic book--a collaboration with national experts in workforce development, and companion to the 2015 publication, Transforming U.S. Workforce Development Policies for the 21st Century.
Watch national policymakers, practitioners and researchers discuss opportunities for strengthening the U.S. workforce system at the book launch event held at the Federal Reserve System’s Board of Governors.
Are there well-paying jobs for people without a four-year college degree? Identifying Opportunity Occupations in the Nation's Largest Metropolitan Economies summarizes research conducted by the Federal Reserve Banks of Philadelphia, Cleveland and Atlanta on employment opportunities for workers without a formal education. This research examines what employment opportunities can be considered opportunity occupations, where these opportunity occupations are located and how employer preferences differ from the education requirements for these jobs.
Scott Anglemyer, executive director of Workforce Partnership, discusses opportunities for the public workforce system to meet the changing needs of employers and workers.
The Atlanta Fed's microblog discusses signs that some of the prime-age individuals who had retreated to the margins of the labor market have been flowing back into the formal labor market.
Chair Janet Yellen discusses the implications of labor market dynamics and monetary policy at the Kansas City Fed's Economic Symposium in Jackson Hole, Wyoming.
Strategies for improving low-wage jobs and their outcomes on economic mobility and financial stability through the lens of the frontline healthcare sector are discussed in this audioconference.
A survey of workforce development professionals suggests that the Community Reinvestment Act can be a useful resource to support workforce outcomes. An overview of the CRA and steps workforce leaders can take to engage banks are discussed in this presentation.
Richmond Fed President Jeffrey Lacker discusses the role of workforce development programs, especially those targeted at youth, on issues of skills development, inequality and mobility.
Dennis Lockhart, president of the Atlanta Fed, discusses building a workforce that can adapt to changing economic realities in opening remarks at the 2013 Community Development Research Conference.
This jobs-related podcast discusses the value and a role for both the employee and employer in developing and enhancing the skill sets of lower-wage workers.
Governor Sarah Bloom Raskin addresses labor markets and workforce development challenges at the National Community Reinvestment Coalition Annual Conference.
Go inside the key issues impacting workforce development. Learn more about the need for public and private partnerships, the impact of demographic changes, and the role of self-employment.
The Atlanta Fed’s jobs-related podcast discusses the importance of public, private and philanthropic partnerships in addressing local and regional workforce challenges.
Steve Shepelwich discusses ways workforce professionals can expand partnerships with banks to create complementary programs with Ron Painter, CEO of the National Association of Workforce Boards.
The Kansas City Fed Labor Market Conditions Indicators (LMCI) are two monthly measures of labor market conditions based on 24 labor market variables. The indicators measure the level of activity and momentum in labor markets.
This repository provides access to research on employment, unemployment, and workforce development published by the Board of Governors and all 12 Federal Reserve Banks.
The Student Board of Directors program provides an opportunity for selected youth to become knowledgeable citizens while exploring career options and developing critical leadership and employability skills.
Students take a survey of their entrepreneurial potential in this lesson by the Kansas City Fed. They learn about Gallup's 10 Talents of Successful Entrepreneurs and solve a business problem using these talents.
In this activity by the Atlanta Fed, students learn about the importance of soft skills, take a self-assessment, and role play real-life situations.
Access tools and resources used in a new one-day workshop for frontline staff to learn new perspectives and skills in the areas of employability skills, financial literacy and entrepreneurship.
Navigate is a classroom resource from the Federal Reserve Bank of Dallas that allows students to examine various careers and educational requirements, evaluate different educational opportunities after high school and imagine their own path to success.
FederalReserveEducation.org equips educators, educates students and empowers consumers by providing access to economic and personal finance education materials from all Federal Reserve Banks in one place.
Based on 55 roundtables with local leaders across the nation, this report provides a snapshot of the workforce development sector and offers strategies for improving the human capital of America’s labor force, expanding access to jobs, and innovating funding.