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Discussion Paper
New Insights on Dual Enrollment Students From the Survey of Community College Outcomes
Dual enrollment programs exist for high school students to take college-level coursework, earn college credit, and sometimes even a credential or degree, prior to graduating high school. These programs are different from other alternatives such as Advanced Placement (AP) or International Baccalaureate (IB). First, dual enrollment is offered through a higher education institution, such as a community college. Second, these students receive college credit for a course if they receive a certain grade. AP and IB courses can lead to college credit, but only if the student gets a passing grade on ...
Discussion Paper
Are Fifth District Firms Revisiting Their Prices Less Often Amid Cooling Inflation?
The Richmond Fed's monthly business surveys of Fifth District firms gauge regional firm dynamics in pricing. We carefully monitor changes in firms' realized prices as well as their pricing expectations, especially since inflation began to accelerate in 2021 and 2022. Early last year, we examined how firms began to adjust their prices more frequently as firms' price forecasts became less accurate and uncertainty rose, as evidenced by a rising standard deviation of price growth expectations.
Discussion Paper
The Coronavirus and Firms in the Fifth District: As of March 2020
On March 13, 2020, the President declared a national state of emergency and by March 16, every state and the District of Columbia had declared states of emergency, all due to the rapid escalation of positive cases of COVID-19. However, Fifth District firms were reporting impacts from the virus before the emergency declarations and the initiation of social distancing mandates in states and localities across the country.
Discussion Paper
Fifth District Firms Are Cautiously Optimistic About 2024 Despite Concerns
At the start of both 2023 and 2024, we asked our business survey panelists about their expectations for the upcoming year. In our recent December survey, we found that most manufacturing firms were pessimistic about the U.S. economy going into 2024 but were more bullish about their own-firm prospects. Additionally, manufacturers were more likely than services firms to expect lower revenue, employment, spending, and price growth in 2024 than they experienced before COVID-19.
Discussion Paper
Is Wage Growth Normalizing? What Fifth District Businesses Are Saying About Wages
In the past few years, firms across the nation have reported increased wages due, at least in part, to a supply of labor that cannot keep up with robust demand. Last July, we wrote about how Fifth District firms reported notable acceleration in the growth rates of both realized and expected wages. More recently, wage growth has declined, and a rising share of firms expect their wage growth for 2024 to be "about normal." However, wage growth remains above pre-COVID-19 levels. Our business surveys suggest that wage growth might remain elevated for some time.
Discussion Paper
Non-Credit Workforce Programs at Community Colleges
Community colleges differ from four-year institutions in key ways, including how programs are distributed across credit and non-credit academic divisions. While nearly all enrolled students at four-year institutions are in for-credit programs, community college students are much more likely to be in non-credit programs, which are shorter in term and typically focus on skills and credentials that are tied to specific occupations.A growing number of community college students are enrolled in non-credit programs across the Fifth District, but traditional data sources do not capture information ...