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As population trends shift, where will future workers come from?
Population is a fundamental determinant of a country’s productive capacity. More specifically, labor, along with capital and the efficiency with which the two can be combined (total factor productivity) determine how much a country can produce at any point in time.
Why Human Capital Matters Why Human Capital Matters
An economist at the St. Louis Fed discusses the growing importance of human capital in determining a nation’s income.
Journal Article
New disruption from artificial intelligence exposes high-skilled workers
With workers still grappling with the consequences of automation, the lightning-speed pace of artificial intelligence (AI) development poses fresh concerns of a new wave of worker displacement.
STEM Skills among Foreign-born Workers in the U.S.
Census data show that college-educated foreign-born workers have a relatively larger presence in STEM occupations than those born in the U.S.
Journal Article
Price Stability Built to Last
The economy is healthy and price stability is within sight. But progress is not victory, and considerable uncertainty and risks remain. To finish the job will take fortitude and patience, along with the agility to respond as the economy evolves. The following is adapted from the keynote address by the president of the Federal Reserve Bank of San Francisco at the 40th Annual NABE Economic Policy Conference in Washington, DC, on February 16.
Discussion Paper
Good News or Bad on New York City Jobs?
Unlike much of the nation, New York City has seen a robust rebound in employment since the recession. In early 2012, employment here reached 3.86 million, the largest number of jobs ever recorded. Yet the city’s unemployment rate has risen in recent months and is now 10 percent—its peak during the recession—and well above the 5 percent rate seen before the downturn. This lack of improvement reflects the fact that the number of employed residents of the city has not rebounded at all from its losses during the 2008-09 downturn. While commuters from outside the city have always been a part ...
How valuable is a short-term credential for a job seeker? It’s complicated
Employer demand for short-term credentials is rising. But the likelihood of such credentials leading to higher wage offers depends on the industry and can change over time.
The Household Shift from Paid Work to Home Production
When U.S. workers lose their jobs or have reduced work hours, how does this affect time spent on activities like cooking and child care?
How long is the soft-landing runway for the labor market?
A normalized labor market likely entails a more-usual relationship between layoffs and labor market tightness indicators, and sooner or later, a higher unemployment rate.
Texas firms use AI with little employment impact so far
Learning how businesses use artificial intelligence (AI) helps policymakers understand changing economic conditions, particularly involving employment and productivity.