Publications - Community Development Resources
Nearly 10 years have passed since Hurricane Ike hit Galveston, Texas, yet many low- and moderate-income neighborhoods and affordable homes have not been rebuilt or replaced. The result is a community that is less economically diverse and more likely to face serious workforce challenges in the coming years. This new Dallas Fed report explores the impact of redevelopment efforts and gentrification on Galveston specifically, but the lessons learned can inform individuals and communities recovering from recent natural disasters across the U.S.
This issue of the Community Pulse presents the findings from our 2017 survey. Amount of/and or access to affordable housing, skill level of local labor force and general poverty were the top three current issues in the fifth district.
This issue of 5th District Footprint examines opioid prescription rates and drug overdose mortality rates in the Fifth District.
In this issue of 5th District Footprint, the Richmond Fed examines the change in the percentage of mortgage denials based on the applicant’s debt-to-income ratio from 2013 to 2014 and from 2014 to 2015.
How have patterns of concentrated poverty changed in the Southeast since the Great Recession? This article previews an Atlanta Fed paper that explores this question.
In September 2015, news headlines touted a large jump in U.S. household incomes. How did states and communities across the Southeast fare? Did they keep up with the national trend? This article uses recent U.S. Census Bureau data to provide a snapshot of the economic well-being of states across the Southeast
This article uses data from the Federal Reserve Board of Governors' 2015 Survey of Household Economics and Decisionmaking, or SHED, to examine the financial well-being of households across the Southeast in the aftermath of the Great Recession.
Data show a persistent widening of income inequality in this country. How can communities establish economic growth that is both strong and inclusive? This article looks at a South Florida effort to improve prosperity for all and create a more resilient local economy.
Opportunity occupations are jobs that pay more than the national median annual wage, as adjusted by local cost of living, and are generally accessible to workers without a college degree. As such, they provide crucial opportunities for middle-skill workers to enter the middle class. This article spotlights research findings that show that where workers live has a significant impact on the availability and accessibility of well-paying jobs that do not require a bachelor's degree.
Heirs' properties are parcels of land inherited by descendants of a previous owner who did not leave a will. This type of ownership is widespread in the Southeast and disproportionately found in low-income ethnic and racial minority families. This article examines the social and economic issues associated with these properties.
Apprenticeships have the potential to improve economic opportunity for workers who lack a traditional college education. This article assesses the state of apprenticeships in the Southeast and nationally.
Invested is the Boston Fed's new interview-based community development magazine that presents the voices of those who are affecting or affected by low- and moderate-income issues in New England. Each four-issue series explores a different topic. Series One explores "Many Roads to Quality Work," and in our first issue of Invested, we consider the complex and crucial challenge of creating work schedules that meet a variety of needs, and learn why strategic scheduling is such an important element of quality jobs and successful businesses.
Apprenticeship is a talent recruitment and development strategy that has been used traditionally in construction and the skilled trades and is being applied to high-growth sectors such as health care, information technology, manufacturing, and financial services.
This guide explains how apprenticeships work; discusses trends, successes, and challenges in U.S. apprenticeships; provides case studies of five long-term apprenticeship programs; profiles new and noteworthy programs; and includes contacts and resources.
Opportunity Occupations: Exploring Employers’ Educational Preferences for Registered Nurses Using Online Job Posting Data
The Cleveland Fed took a deep dive into the Registered Nurses (RN) labor market, using online job posting data to gain a better understanding of how much education employers prefer when hiring. Why RNs? Since 2014, online job postings for RNs have far outpaced the postings for all other jobs.
Drug overdoses now account for more deaths in the United States than traffic deaths or suicides, and most of the increase in overdose deaths since 2010 can be attributed to opioids--a class of drugs that includes both prescription pain relievers and illegal narcotics. Two Cleveland Fed researchers examine trends in drug use and overdose deaths to document how the opioid epidemic has evolved over time and to determine whether it could be large enough to impact the labor force.
In the July 2017 edition of Housing Market Perspectives, St. Louis Fed economist Bill Emmons considers homeowner's equity, or HOE, as the single largest component of wealth for black and Latino families, accounting for nearly half of those families' wealth as opposed to roughly a third for Asian and other families and about a quarter for white families.
New approaches to developing such training programs are the topic of an Atlanta Fed ebook, Developing Career-Based Training. The ebook is a collaboration with national experts in workforce development. It follows the Atlanta Fed’s first ebook, Models for Labor Market Intermediaries, which shows how organizations in different contexts make the connections needed to address local workforce challenges. The ebook is also a companion to the 2015 publication, Transforming U.S. Workforce Development Policies for the 21st Century.
In this fourth issue of the Quarterly Debt Monitor, covering the fourth quarter of 2016, the St. Louis Fed explores decreasing auto debt growth alongside a rise in subprime delinquencies on car loans. Over the past few years, strong lending of auto and student debt has buoyed total debt, accounting for the majority of credit expansion. This report offers a closer look at auto lending, including the factors that contributed to the expansion in this sector.
Read about C&B's transformation this fall into our new online magazine, Invested. Our spring 2017 feature article shares valuable lessons from the Boston Fed's Working Cities Challenge, an ongoing initiative to help smaller industrial cities in New England tackle social and economic problems. Also in this issue, we learn about the perils and abuses of land installment contracts, the value of community benefits agreements, and how entrepreneurship breeds opportunity in minority communities. Other articles highlight the importance of anchor institutions to local businesses, how "gamified" financial education seems to reinforce smart savings decisions, and we see evidence that pay-for-success approaches to preventing formerly incarcerated youth from reoffending can turn young lives around. Finally, we examine recent changes in the prospects for renters in New England.
Investing in America’s Workforce seeks to strengthen our nation’s economic potential through reframing and reimagining workforce development efforts, taking a broader view of them as investments, rather than as a limiting view centered on the delivery of social services. This initiative will connect businesses, government, nonprofit, and philanthropic partners to rethink policy and investments, attract new resources, and improve economic mobility for workers.
In 2016, the Federal Reserve Bank of San Francisco held a series of roundtable discussions across the Western states to examine drivers of the recent rise in involuntary part-time employment and the impact it has on lower-income households. This paper 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.
The third issue of Community Scope 2016 will offer a broad overview of the challenges faced by today’s watermen that may be precipitating their declining numbers and will discuss alternative and supplemental employment options that may be available to them.
Nonprofits play a variety of roles in our daily lives; from providing higher education and medical care to supporting the arts. This issue of the Fifth District Spotlight looks at the nonprofit sector in the U.S. and within the Fifth District.
In this issue of In the Balance, economists from the Federal Reserve Bank of St. Louis further explore the paradox of how higher education has become an unintentional engine of economic disparity for blacks and Hispanics, rather than an engine of economic equality.
In this third issue of the Quarterly Debt Monitor, which focuses on the third quarter of 2016, the St. Louis Fed finds consumer debt growth stalling in the four largest metropolitan statistical areas (MSAs) in the St. Louis Fed's District (St. Louis, Little Rock, Ark., Louisville, Ky, and Memphis, Tenn.) and across the United States. Additionally, a special section is included in the issue that focuses on consumer debt trends in some of the smaller MSAs in the District, including Evansville, Ind.-Ky.; Fayettevillle-Springdale-Rogers, Ark.-Mo.; Jackson, Tenn.; and Springfield, Mo.
According to the 2016 Illinois Poverty Report, poverty rates are two to three times higher for Illinoisans of color. Black children in Illinois are nearly four times more likely to live below the poverty line than white children. In this 2016 article from the Chicago Fed's Profitwise News and Views, the author examines how a universal Children’s Savings Account (CSA) program has the potential to provide such a ladder out of poverty and toward long-term financial security–especially in communities of color.
In this second issue of the Quarterly Debt Monitor, covering the second quarter of 2016, the St. Louis Fed gives a detailed report on consumer debt nationally compared with the four largest metropolitan statistical areas (MSAs) in the St. Louis Fed's District (St. Louis, Little Rock, Ark., Louisville, Ky., and Memphis, Tenn.) and finds consumer debt grew across the United States, as well as all of the MSAs in the Eighth Federal Reserve District.
This report from the Dallas Fed and the Center for Public Policy Priorities draws upon survey results from Texas' 28 workforce boards to demonstrate how integrated regional workforce development systems are strengthening the middle class by building talent pipelines that help advance lower-skilled workers and job seekers.
In this inaugural edition covering the first quarter of 2016, the St. Louis Fed reports on consumer debt nationally compared with the four largest metropolitan statistical areas (MSAs) in the Eighth Federal Reserve District. These quarterly reports will examine changes in total consumer debt and in specific types of liabilities: mortgages, home equity lines of credit (HELOC), automobile and student loans, and credit card balances.
Workforce development contributes to a strong economy by equipping workers to succeed in the labor market and supplying employers with quality talent. This framework, from the Dallas and Kansas City Feds, is designed to give banks—and organizations interested in partnering with them—tools and information to engage in workforce development activities in ways that may help them fulfill their obligations under the Community Reinvestment Act.
Campaign organizers aim to saturate the Blackfeet reservation with messages about the opportunities and pitfalls that large legal payouts present. From Community Dividend, a publication of the Minneapolis Fed.
This 2016 article, from the Chicago Fed's ProfitWise News and Views, provides an in-depth look at The Center for Economic Progress (CEP), a local and national leader in providing free tax and financial services for low-income families, with a front-line presence in 15 Chicago area communities, and central Illinois. CEP’s mission comes to life through its three core service areas: tax preparation, tax legal clinic and asset building program.
While the preventive effect of loan modifications on mortgage default has been well-documented, evidence on the broad consequences of modifications has been fairly limited. Based on two unique loan-level data sets with borrower credit profiles, the study Borrower Credit Access and Credit Performance After Loan Modifications reports novel empirical evidence on how homeowners manage their credit before and after receiving modifications.
Consumer debt grew rapidly in the years leading up to the Great Recession and contracted sharply in its immediate aftermath.This credit cycle played out unevenly among households with different financial means and in different parts of the country. While much attention has been paid to mortgages, other debt categories, such as automobile and student, play an important role in household finances. In this 2006 article, featured in ProfitWise News and Views, the Chicago Fed analyzes changes in the pattern of consumer credit during the period of the Great Recession by income group and loan category in Cook County overall, and compared to the nation.
This article from a 2016 Federal Reserve Bank of Chicago’s Profitwise News and Views publication provides an in depth look at the Cara Program. Since 1991, Cara has helped men and women affected by poverty to get and keep good jobs, and more importantly rebuild hope, self-esteem, and opportunity for themselves and their families in the process. Cara produces hundreds of jobs each year, at retention rates over 20 percentage points higher than national averages, and with over 80 percent of employed participants moving onto permanent housing in which their families can thrive.
This publication includes papers originally presented at the ninth biennial Federal Reserve System’s Community Development Research Conference. The authors of the essays in this volume explore a range of issues and concepts central to understanding how—and how well—people are able to move economically.
The fall 2016 issue leads off with the necessity of teachers of color in public school systems and also reports on local educators' reactions to Common Core implementation. Other topics include the high prevalence of young adults receiving Social Security Disability benefits in northern New England, an overview of the region's addiction epidemic, a look at unemployment and the popularity of lotteries in Maine, and the relationship between homelessness and subsidized housing. More articles cover the Capital & Collaboration initiative's examination of community investment in Massachusetts Working Cities, how mobile payments help streamline commuting, a collaboration between Starbucks and a nonprofit group of CDFIs to create jobs, and data on childhood food insecurity in New England.
This Dallas Fed article provides an overview of the latest in Texas' payday lending field, highlighting impact on low-income communities, recent changes to local ordinances, the CFPB's proposed federal regulations and low-cost alternatives in the state and across the U.S.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Summer 2016 issue include: All Low- and Moderate-Income Areas Are Not Created Equal; Moving First-Time Buyers Off the Fence: Solving the Millennial Homebuyer Puzzle with Proven Online Solutions and Partnerships; Innovative Partnership Brings Hope to Small Towns; Entrepreneurship and Economic Development Fueled by Students and Faculty; Impacting Homelessness in Missouri; and more.
The strengthening labor market provides an opportunity for both employers and policymakers to reconsider the status of subgroups that face distinct barriers to the job market. One important underemployed subgroup is the formerly incarcerated. This article, featured in Issue 2, 2016, of the Chicago Fed's ProfitWise News and Views, summarizes some of the challenges preventing many former prisoners from entering the labor force, and provides an overview of two recent symposiums organized by the Fed’s Community Development and Policy Studies (CDPS) unit to explore policy and programmatic interventions to address the issue.
Addressing Employment Needs through Sector Partnerships: Case Studies from Across the Federal Reserve's Fourth District
The Cleveland Fed’s Community Development Department chose five sector-based partnerships to include in a compilation of case studies. A few important similarities across the initiatives: active and substantive employer engagement, trust building across partners, and a strong intermediary can do a lot to promote relationship and trust building.
Spurred by provisions of the Workforce Innovation and Opportunity Act, workforce investment board members and representatives of the Cleveland Fed gathered at a forum in June 2016 to offer their input for a collaborative, overarching plan to address persistent workforce challenges across Northeast Ohio.
In this issue of 5th District Footprint, the Richmond Fed explores changes in the net migration rates of individuals within Fifth District counties from 2011 to 2015. The U.S. Census Bureau estimates net migration rates annually by expressing the net number of individuals that moved into a county from the U.S. (domestic migration rate) and abroad (international migration rate) as a percentage of the county’s total estimated population.
In this issue of 5th District Footprint, the Richmond Fed examines the share of people living in a county’s low- and moderate-income (LMI) areas. In the Fifth Federal Reserve District, the average county’s percentage of population living in LMI areas was 23 percent with a median of 18 percent. Financial institutions and regulators use the income level indicator to determine whether banking activity is taking place in targeted areas.
In the summer 2016 issue of the Boston Fed's Communities & Banking magazine, the feature story reveals how shorter life expectancy of poorer people means that federal benefits for the elderly disproportionately help the well-off. Other articles look at expulsion of children from early education settings, using mobile technology to boost children’s savings accounts, innovative high school internships, Connecticut programs that help youth and older workers pursue higher education and better jobs, and more.
The rapid growth of asset poverty in the United States is a troublesome sign that millions of families nationwide lack the resources necessary to secure a more stable financial future. The findings in this report, published by the San Francisco Fed, from the National Asset Scorecard for Communities of Color (NASCC) survey reveal major disparities in wealth accumulation across various racial and ethnic groups in Los Angeles.
Boosting the Power of Youth Paychecks: Integrating Financial Capability into Youth Employment Programs
This working paper from the San Francisco Fed summarizes the results of the first-ever quasi-experimental design study of a youth financial capability initiative seamlessly integrated into a youth workforce development program.
The Low- and Moderate-income Conditions Survey:A Summary of Seventh Fed District Community Development Practitioner Responses
Increased employment hasn’t translated into greater financial well-being, according to findings from the LMI ((low- and moderate-income) survey published by the Chicago Fed’s Community Development and Policy Studies (CDPS) Division. While surprising on its face, Seventh District respondents offer three broad reasons for this seeming contradiction.
Given changing regulatory and market factors in mortgage finance, the time is ripe for innovation, and it behooves policymakers, business leaders, and communities to consider potential alternatives to traditional mortgages. In this 2016 ProfitWise New and Views article, the Chicago Fed’s Community Development and Policy Studies (CDPS) Division explores five innovative products in the residential mortgage marketplace – some already in place, others in progress.
Federal funding for the traditional workforce development system has declined dramatically over the past few decades. In this April 2016 discussion paper, Stuart Andreason from the Atlanta Fed examines several promising alternative financing models for workforce development programs, such as social impact bonds and income-share agreements.
The spring 2016 issue of the Boston Fed's Communities & Banking publication spotlights shocking racial wealth gaps in the Boston metropolitan area. Also, see our map on changes in home mortgage originations in New England.
A Q&A with a Cleveland Fed economist explores that as a poverty-reduction tool, raising the minimum wage isn't without drawbacks.
In this Forefront article, two Cleveland Fed researchers look at whether the increase in student loan debt could be responsible for the decline in mortgage borrowing among those between the ages of 18 and 30.
Research findings discussed during a 2015 conference at the Minneapolis Fed show there are levers available to keep the benefits of early learning programs going into later school years. From Community Dividend, a publication of the Minneapolis Fed.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Winter 2015-2016 issue include: Thrivers and Strugglers: A Growing Economic Divide; Neighborhood “House Economy” Teaches Youth Life Lessons; Grassroots Neighborhood Revitalization in Hyde Park; Collaboration: The Key to Champion Community Investments’ Success; How Housing and Health Care Nonprofits Can Increase Access to Medical Residential Services; Jacobsville Join In!; and more.
Some local communities are developing and deploying effective strategies and tactics to address common challenges in local workforce development. Critical to this effort is the fostering and facilitation of partnerships with traditional and nontraditional organizations. These partnerships are the topic of the Federal Reserve Bank of Atlanta’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.
The size of the U.S. labor force has generated considerable discussion during and in the aftermath of the Great Recession. Using data from the American Community survey, this article, published in the October 2015 issue of 5th District Footprint, examines labor force participation (LFP) rates across the Fifth District over the last decade. It also offers an overview of the LFP rate and suggests reasons for its decline nationally.
The age of a population can reveal important characteristics of a region’s economic activity. This 5th District Footprint, from September 2015, looks at age composition through dependency ratios, measures that can indicate how high or low the degree of dependency is on the working age population.
The Boston Fed's quarterly Communities & Banking magazine supports the economic strength of lower-income communities by sharing relevant research and best practices. The winter 2016 issue cover article looks at how the Military Lending Act has affected the use of alternative financial services by military personnel.
Financial Well-being: At the Convergence of People and Place – Reflections from a Chicago Conversation
Check out this brief collection of writings, based on a Chicago Fed convening and local conversation about financial well-being. This gathering was motivated by What It’s Worth, a joint publication of the Corporation for Enterprise Development (CFED) and the Federal Reserve Bank of San Francisco, collecting insights from thought leaders across the country on the topic of financial capacity for families and communities.
Community Pulse presents the findings from a 2015 survey that identified the most pressing current and emerging issues in the Fifth Federal Reserve District. More than 300 community development experts from Maryland, North Carolina, South Carolina, Virginia, West Virginia and the District of Columbia shared their perspectives on the issues that their communities are facing.
The American economy is only as strong as the American household. In communities across the country, families are struggling to thrive. Learn what we can collectively do to tackle poverty and put more families on the path to financial well-being. A new book published by the San Francisco Fed in partnership with CFED, What It’s Worth: Strengthening the Financial Future of Families, Communities and the Nation, provides a 360-degree view of the financial problems and challenges millions of American households face. The book highlights the enormous creativity and innovation underway to improve financial well-being and provides concrete ways that nearly all sectors of society can implement proven and evolving solutions.
Lacking transit access, many lower-skilled workers in Northeast Ohio miss out on job opportunities, say Cleveland Fed researchers. This study looks at what Northeast Ohio business and civic leaders can do to increase job access.
What happens in metropolitan labor markets that are successful at attracting and retaining residents with a bachelor or higher degree? This discussion paper by the Atlanta Fed's Stuart Andreason investigates labor market outcomes in "leader metros."
The Community Development department at the Kansas City Fed hosted roundtable discussions around the 10th District to explore opportunities that entrepreneurship can provide in African-American communities.
The only magazine covering lower-income issues in the six New England states, Communities & Banking, produced by the Federal Reserve Bank of Boston, is a reader-friendly forum for research and best practices. Cover story: How equal pay for women would decrease US poverty.
Transforming U.S. Workforce Development Policies for the 21st Century is a dynamic new book that explores how innovative policies and practices can meet the changing needs of workers, businesses, and their communities. Produced in partnership by the Federal Reserve Banks of Atlanta and Kansas City, and the John J. Heldrich Center for Workforce Development at Rutgers University, this edited volume presents contributions from more than 65 leading scholars and practitioners engaged in workforce development. They examine the state of the labor market, and potentially transformative workforce development and education strategies and policies to improve opportunities for job seekers, students, and workers, especially those encountering the greatest difficulties in the labor market.
This Forefront article offers highlights from the Cleveland Fed’s shale symposium, convened in February 2015 in Wheeling, WV, and featuring experts from around the country to examine how communities can make the most of extraction's boom while mitigating effects from the inevitable bust.
Demystifying the Workforce Innovation and Opportunity Act (WIOA) for Community and Economic Developers: A Primer
Effective July 1, 2015, provisions of the Workforce Innovation and Opportunity Act, or WIOA, went into effect. What changes has this legislation prompted, and how might they help improve outcomes for workers, employers, and communities alike? In this primer, a senior policy analyst from the Cleveland Fed highlights key reforms of the WIOA, along with implications for policymakers and practitioners.
This September 2015 newsletter from the Kansas City Fed covers a Q&A with Elizabeth Isele; an adult education program in Wichita that unites technical training and employment; a discussion on collaborative community development; new information that helps lenders keep current; and audience-specific tools to help improve knowledge among youth, adults and employers. The newsletter also contains a discussion on collaborative development and findings from LMI Survey results.
Over the past 35 years, America's fertility has reflected, to some extent, the business cycle, but that trend doesn't appear to be holding up in the current expansion. Two Cleveland Fed researchers take a closer look at this in an August 2015 Economic Trends.
The second student loan article in the Dallas Fed's Texas Consumer Credit Series explores possible factors influencing Texas student loan trends, higher education financing tools and circumstances that contribute to loan delinquencies. It shows that despite growing concerns, student loans are critical in bringing higher education–and a brighter financial future–within reach for many.
For commuters in rural areas with few transportation options, car ownership can be a key to self-sufficiency. From the July 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Technological advances. Lower productivity. Fewer full-time workers. Depending on whom one asks, the reasons vary for why we’ve experienced more than a decade of low wage growth. One area of agreement, observes a Cleveland Fed writer in an article from its policy journal, Forefront: Stubbornly low wages impact society and the US economy.
This third essay in the Center for Household Financial Stability’s “Demographics of Wealth” series from the St. Louis Fed examines the connections between age and wealth. The essay is the result of an analysis of data collected from more than 40,000 heads of households between 1989 and 2013 through the Federal Reserve’s Survey of Consumer Finances.
This July 2015 newsletter from the Kansas City Fed announces an upcoming book on workforce development, examines a cluster-based model to supporting inner-city entrepreneurship in Omaha and provides updates on a borrowing guide for Native American communities. The newsletter also contains an interview with a Kansas City Fed economist on the role of millennials and boomers in the recovery of the multifamily construction market, as well as other news and events.
This quarterly magazine from the Boston Fed supports the economic strength of lower-income communities by sharing relevant research and best practices. The summer 2015 issue cover article introduces the concept of child-impact statements.
Organizations that help foster regional coordination among workforce development service providers recently convened to discuss successful strategies. This May/June 2015 Partners Update article summarizes their discussions, which include key challenges and methods for surmounting them.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Spring 2015 issue include: Community Counts: Activating All Families To Save for Higher Education; Preparing and Promoting Communities through Economic Analysis; Designing Opportunity: Ending Generational Poverty and Re-establishing Economic Stability in Rural America; Building Creative Communities; and more.
This second essay in the Center for Household Financial Stability’s “Demographics of Wealth” series examines the strong correlation between education and money. The essay is the result of an analysis of data collected from more than 40,000 heads of households between 1989 and 2013 through the Federal Reserve’s Survey of Consumer Finances.
This bimonthly newsletter from the Kansas City Fed provides information on community and economic development trends across the Tenth Federal Reserve District.
Future Fortunes: Are City-Suburban Educational Attainment Trends in the Southeast United States Unique?
In this fourth Partners Update article in a series, the Atlanta Fed's Stuart Andreason and Mindy Kao investigate educational attainment trends in the Southeast, a region that has historically lagged behind the rest of the nation. This article, published in May/June 2015, looks closely at census and other data to try to uncover some positive trends that may exist despite the lag.
This paper, jointly produced by the Center on Assets, Education, and Inclusion (AEDI) at the University of Kansas and the Federal Reserve Bank of Boston, was informed by a roundtable on CSA delivery systems, held at the Boston Fed in December 2014. It describes the design, key features, and respective challenges of each principal delivery system. Assessed in light of the CSA field's guiding principles for delivery system design (universal and automatic enrollment, national footprint, cultivation of a saver identity, asset-building, administrative efficiency, and adequate consumer protection), these models have distinct advantages and limitations. This paper attempts to contribute to the critical task of building the knowledge base needed to help children's savings programs begin to weigh the pros and cons of each of these existing delivery systems.
Financial Resources in Kinship and Social Networks: Flow and Relationship to Household Wealth by Race and Ethnicity among Boston Residents
This discussion paper from the Boston Fed examines the extent to which family financial transfers occur among Boston residents of color. Targeting US-born blacks, Caribbean blacks, Cape Verdeans, Puerto Ricans, and Dominicans, findings show that households of color consistently receive fewer financial transfers than whites, while at the same time providing more financial assistance to their families and relatives. Particularly striking are differences in parental payments toward higher education expenses and financial support for the down payment of a home.
This discussion paper by the Atlanta Fed's Stuart Andreason and Ann Carpenter examines the Atlanta metro area’s challenges in coordinating workforce development programs and services. The paper explores four cities that can serve as models of successful collaboration--Boston, Chicago, Cincinnati, and Detroit.
In this third Partners Update article in a series, the Atlanta Fed's Stuart Andreason and Mindy Kao investigate educational attainment trends in legacy cities, older industrial areas that once relied on manufacturing and production but lost jobs and population.
Looking for refi-eligible homeowners who have high-interest loans: Who's leaving money on the table?
An analysis by the Minneapolis Fed identifies pockets of the Ninth Federal Reserve District where a relatively high percentage of homeowners may be missing out on a chance to refinance their mortgages. From the April 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Although the new "sharing economy" has raised its share of controversy, a presentation at the Atlanta Fed highlighted some of the benefits of these peer-to-peer markets. During a recent forum, New York University Professor Arun Sundararajan discussed one especially promising benefit—the potential to "democratize a higher standard of living." This article and series of brief video interviews with Sundararajan describes these services and how they are using technology to connect supply and demand in new ways.
In this second Partners Update article in a series, produced in March/April 2015, the Atlanta Fed's Stuart Andreason and Mindy Kao examine educational attainment trends across the country's 50 largest metropolitan areas and how the trends may have different implications for cities and suburbs.
A Qualitative Meta-analysis of the Housing Choice Voucher Program” by Erin M. Graves synthesizes housing subsidy voucher studies to explain why, when in theory, vouchers enable users to move out of poor neighborhoods, in practice, they often do not. This qualitative meta-analysis presents an examination of the formative assumptions of the program and their relationship to empirical findings.
The latest New England Community Outlook Survey from the Boston Fed takes a deeper dive into the effect of addiction on the economic strength of communities, particularly in Maine, Vermont, and New Hampshire.
How important is it for community college students to be financially capable? Consider that community colleges enroll nearly half of all U.S. undergraduates, many of whom are from disadvantaged backgrounds, and that financial challenges often disrupt their educational progress and impede prospects for future financial wellness. As part of its efforts to help promote the financial stability of New England’s low- and moderate-income (LMI) residents, the Boston Fed is working with regional community colleges to help students manage their financial lives effectively. In its new handbook, Promoting Pathways to Financial Stability, the Boston Fed describes the importance of this work and shares related experiences of institutions in different parts of the country. The handbook is a resource for community college personnel, potential partners, and supporters with an interest in building the capacity of students to navigate financial challenges and plan for their future.
One model of financial counseling couples education with delivery of point-in-time municipal services. This model and other issues relevant to financial education providers were topics at the Cities for Financial Empowerment Fund's 2015 annual meeting, hosted by the Atlanta Fed's Nashville Branch. This Partners Update article by the Atlanta Fed's Emily Mitchell summarizes highlights from the meeting.
This first essay in the Center for Household Financial Stability’s “Demographics of Wealth” series examines the connection between race or ethnicity and wealth accumulation over the past quarter-century. The essay is the result of an analysis of data collected from more than 40,000 heads of households between 1989 and 2013 through the Federal Reserve’s Survey of Consumer Finances.
In this issue of Community Investments from the San Francisco Fed, we look into some of the reasons why we are seeing a degree of disconnection between what veterans need and the resources available to them. As we consider how the public can address these missing links, this issue’s articles provide evidence from local initiatives demonstrating effective ways for communities to recognize, support, and collaborate with veterans in the arenas of employment, housing, education, and financial stability. Many of the efforts presented here also highlight the ways in which veterans themselves are serving and supporting their fellow veterans and their broader communities.
From Classroom to Career: An Overview of Current Workforce Development Trends, Issues and Initiatives
This Fall 2014 edition of the Federal Reserve Bank of Chicago’s Profitwise News and Views highlights: workforce-focused programs and research around the Federal Reserve System; trends in educational attainment and (resulting) wage disparity; skills gaps among those seeking work; employer efforts to train workers; and examples of current workforce development initiatives in the District.
To what extent does the Small Business Administration (SBA) 7(a) loan guarantee program help facilitate flows of credit to small businesses in the city of Detroit, and to black and low- and moderate-income neighborhoods in Michigan? The Chicago Fed's Community Development and Policy Studies (CDPS) Division offers its analysis in this insightful article.
This first edition of Research in Brief examines the ways in which the type of bankruptcy filing — Chapter 7 or Chapter 13 — can have an impact on a household's future access to credit. Summarizing a working paper by Julapa Jagtiani and Wenli Li from the Federal Reserve Bank of Philadelphia, this brief provides insight into the outcomes of bankruptcy filings, including the implications for future access to unsecured debt and the impact of bankruptcy on future credit limits.
In listening sessions with the Atlanta Fed, workforce training providers noted the lack of soft skills in some workers. Those skills can be roughly divided into essential skills and workplace skills. In this Partners Update article, the Atlanta Fed's Stuart Andreason describes how both sets of skills are highly valued, but they imply different interventions. Understanding the different types of soft skill challenges—either essential or workplace skills—may help direct community development organizations toward the most effective interventions for certain populations.
Can changes in educational attainment of a population foretell the economic performance of a city relative to its suburbs? This Partners Update article by the Atlanta Fed's Stuart Andreason and Mindy Kao looks at data on the metro Atlanta area for answers.
Increased demand and complexities could create a particularly challenging tax-filing season for Volunteer Income Tax Assistance providers this year. From the January 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Hands-on educational experiences are exposing low-income students in Minnesota to the concepts and opportunities found in the science, technology, engineering, and mathematics fields. From the January 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
U.S. job growth in 2014 was the best in 15 years, but not all those jobs pay enough to support a family. The ALICE project describes the population of workers struggling to afford basic necessities; this Partners Update article from the Atlanta Fed examines the Florida project results.
This paper from the San Francisco Fed explores age-friendly banking products and services that better protect and preserve the assets of an aging population. In order to examine the unique financial needs and increase the financial well-being of low-income older adults, the California Coalition for Rural Housing (CCRH) partnered with the National Community Reinvestment Coalition (NCRC) to conduct an intensive study of over 400 low-income tenants living in subsidized senior housing. CCRH and NCRC propose a number of recommendations that financial institutions can incorporate into the development of effective Age-Friendly Banking initiatives.
This Dallas Fed article describes the new UpSkill Houston initiative from the Greater Houston Partnership. UpSkill seeks to help close the skills gap and fill middle-skill jobs in the booming regional economy by connecting leaders from industry, education and social service organizations.
The first student loan article in the Dallas Fed's Texas Consumer Credit Series examines patterns and trends in student loan borrowing and its impacts. Part 1 shows that Texas' average student loan balance is lower than the national average, while delinquency rates are higher.
Which areas of the Fifth Federal Reserve District have the highest and lowest percentages of people 25 years and older with bachelor’s degrees or higher? How have these areas changed since 1990? Find out the answers to these questions and more in this November 2014 edition of 5th District Footprint, which looks at changes in educational attainment in the Fifth District between 1990 and 2012.
The Workforce Innovation and Opportunity Act funds the public workforce development system, which provides job training and placement services across the United States. This brief Partners Update piece from the Atlanta Fed provides an overview of the Act, which goes into effect in July 2015.
In this December 2014 installment of Liberty Street Economics, economists from the Federal Reserve Bank of New York share their analyses and insights on consumer credit conditions.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Fall 2014 issue include: How the Shrinking of the Labor Force Might Impact Your Community; St. Louis Initiative Increases Youth Labor Force Participation; Broad Avenue’s New Face; Hands-On Commitment to Financial Education; and more.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Summer 2014 issue include: Treasury’s myRA To Debut in Late 2014; RISE to the Challenge: Immigrant Entrepreneurship in Louisville; Creating Opportunity Pathways for Asset Development; Redefining Historic Preservation; and more.
Analyzing Home Mortgage Disclosure Act (HMDA) data, researchers at the Boston Fed provide a brief overview of New England's mortgage lending activity in 2012 and evidence of disparities in loan origination outcomes for borrowers of various incomes, races, and ethnicities in this Community Development Issue Brief from November 2014.
Disagreement over the nature of poverty and debate over how to address it are part of a long-running narrative in our nation. In a new essay published in Ledger, the Boston Fed's economic education journal, writer Bob Jabaily looks at three aspects of this narrative: the recurrence of certain themes in America's response to poverty, the ongoing discussion over how to define and measure poverty, and some of the more notable efforts to document the lives of poor people and raise awareness of poverty.
Much of the wage growth in the United States over the past several decades has gone to the most productive (and highly educated) workers. This Partners Update article from the Federal Reserve Bank of Atlanta looks at the implications for community and economic developers.
Strong, well-functioning linkages between employers and a pipeline of local workers can be difficult to establish. But there are successful models. This Partners Update article from the Atlanta Fed features the Southwest Alabama Workforce Development Council, which exemplifies how collaborative regional partnerships can facilitate career pathways for local workers and also address industry's workforce needs.
News reports have suggested that higher-risk lending is on the rise, but an analysis by the Minneapolis Fed paints a more nuanced picture. From the October 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
This Dallas Fed 2014 research update presents maps and charts of consumer loan balances and delinquencies in the Eleventh District. The report indicates that aggregate consumer debt increased 7.6% from 2013, yet consumer loan performance in the district was still improved.
This issue of Community Investments from the San Francisco Fed focuses on the efforts that help households build on their earnings and invest in their future. Highlighted here are programs and policies that expand consumer access to more affordable financial products; support renters in building their credit history; and provide assistance to families investing in their futures through children’s savings accounts, entrepreneurship, and retirement.
The Kansas City Fed recently launched the first installment of its newest periodic series. The Tenth District LMI Labor Force Report provides a snapshot of low-and-moderate-income (LMI) labor market conditions in the Tenth Federal Reserve District. The analyses provide trends in unemployment rates, employment projections for workers with training and experience typical of the LMI, wage data, and the LMI Job Availability Index from the Kansas City Fed’s LMI Survey. The goal of the report is to provide community development and social service organizations, policymakers, and others a gauge of District LMI labor market conditions.
In the Report on the Economic Well-Being of U.S. Households, the Federal Reserve Board provides a snapshot of the self-perceived financial and economic well-being of U.S. households and the issues they face, based on responses to the Board's 2013 Survey of Household Economics and Decisionmaking. The report provides insight into numerous topics of current relevance to household finances, including: housing and living arrangements; credit access and behavior; education and student loan debt; savings; retirement; and health expenses.
Buying a home is exhausting enough; does it help to add hours of financial counseling to the process? In a longitudinal study by the Philadelphia Fed, researchers evaluate the effectiveness of pre-purchase homeownership and financial management skills counseling. The study improves on previous efforts by employing an experimental design methodology, and it tracks study participants’ creditworthiness over time. Two key findings: pre-purchase homeownership counseling improves financial capability, and more hours of counseling produce greater outcomes for participants.
The Kansas City Fed provides financial forms, checklists and other resources to help consumers and small business owners prepare before and recover after disaster strikes. These resources were developed from a series of focus groups and meetings held in the tenth district.
A collaborative effort among schools, neighborhood groups, and service organizations is working to boost academic performance and family stability in North Minneapolis. From the July 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
In this issue of 5th District Footprint, read about the Fifth District's four-year cohort high school graduation rates for the class of 2013.
With the price of a college degree rising, students and families are taking on more debt. Is it paying off? Two Cleveland Fed researchers look at trends in student loan debt for young households and find that, by going to college, one is likely to end up in a household that earns a considerable wage income premium throughout its working life but which also has a sizeable amount of college debt early on. There is one education group for which this does not hold: those with some college but no degree. These households, which on average make up 32 percent of those 22 to 29 years of age and 25 percent of those 30 to 65 years of age, have some college debt but get little to no labor market benefit.
The Dallas Fed summarizes findings from a research study conducted in a South Dallas neighborhood which tests how gateways (basic bank products) and stepping stones (asset building financial products) can put households on a path to financial security.
Older adults face unique situations in the post-financial crisis economy. How are they managing financial transactions with new and emerging technologies? How well are they navigating an increasingly complex financial marketplace? The Federal Reserve Board of Governors convened several events and published a forum briefing paper on this topic.
Payments systems are evolving rapidly in the US. This report presents findings from the Federal Reserve Board of Governors' third annual survey on consumers' use of mobile financial services, conducted in December 2013.
The state of the student loan market has received much attention in recent years, as the number of borrowers and their collective debt have risen dramatically. These trends have been particularly problematic in the wake of the 2007–09 recession because increased unemployment and suppressed income impair borrowers’ ability to make payments on their loans. This Cascade Focus, published by the Philadelphia Fed, outlines the recent history of student borrowing in the Third Federal Reserve District and explores lending patterns, by the neighborhood income of the borrower, to better understand the implications for low- and moderate-income communities.
This edition of the Philadelphia Fed's Cascade focuses on ways to strengthen household financial stability after the recession, why the unbanked use alternative financial services, the use of tax-time savings programs to build assets, the Cities for Financial Empowerment Coalition, and student loan debt. It also includes an interview with Sandra Braunstein of the Federal Reserve Board of Governors on the Federal Reserve’s role in community development, a Mapping Our Community feature on the distribution of household income, and a memorial to Frederick Heldring, former Philadelphia bank CEO and a founder of the Delaware Valley Mortgage Plan.
Postsecondary educational expenses and student loan balances have been trending steadily upward, but persistent unemployment and weak economic conditions have created an alarming new trend of rising student loan defaults. This research brief from the San Francisco Fed examines broad trends in student borrowing in the Federal Reserve’s 12th District, with an emphasis on students from low- and moderate-income households.
Within the Federal Reserve’s 12th District, over 4 million families and individuals received the Earned Income Tax Credit (EITC) for tax year 2007, totaling over $8 billion in credits. In this research brief, the San Francisco Fed examines trends in EITC usage across the 12th District and looks at how the EITC and tax time provide a unique opportunity to link lower-income households to financial services and promote asset building.
This Dallas Fed article highlights an innovative housing program addressing the needs of homeless veterans in the northern Louisiana portion of the the 11th District. Volunteers of America of North Louisiana provides transitional housing and supportive services including comprehensive health care, vocational rehabilitation and financial education.
This Dallas Fed article highlights United Way THRIVE, an innovative community financial stability collaborative of 21 service providers, launched and led by United Way of Greater Houston. In 2013, the effort guided 52,000 Houston-area families in reaching three financial stability objectives: increasing income, building savings,and acquiring assets.
The Dallas Fed highlights the importance of filing for the Earned Income Tax Credit (EITC), avoiding alternative refund settlement products and Volunteer Income Tax Assistance (VITA) programs in maximizing tax savings for low- and moderate-income families.
This report published by the San Francisco Fed provides research findings from two different phases of “MY Path,” a financial capability initiative that provides employed disadvantaged youth with peer-led financial education trainings, a savings account at a mainstream financial institution and incentives to set and meet savings goals.
From Cashing Checks to Building Assets: A Case Study of the Check Cashing/Credit Union Hybrid Service Model
This case study from the San Francisco Fed examines the pilot effort of Community Trust Prospera (CT Prospera), a division of Self-Help Federal Credit Union, to combine the accessible services of a check-casher with the longer-term depository and lending relationship opportunities of a mainstream financial institution. It is intended to capture lessons learned thus far and provide an informational resource for any organizations that are interested in learning from the model.
The Boston Fed conducts a semi-annual survey of service providers' perceptions of the economic and financial conditions of lower-income communities and individuals in New England and the organizations that serve them. Read about the results of their October 2013 survey in this report.
The Spring 2014 issue highlights the State Small Business Credit Initiative that is helping fund small businesses across the Tenth District by leveraging private lending. The issue also spotlights an Albuquerque collaboration assisting underserved families and children, and the use of crowd funding as a tool for social entrepreneurship. In addition, the issue features a Q&A with Mark Pinsky, president and CEO of Opportunity Finance Network, on the challenges facing CDFIs in the wake of the Great Recession.
The Boston Fed has created a powerful, time-saving, easy-to-use tool for people interested in the New England region. The tool uses census data to compare the demographic characteristics of lower-income and higher-income areas within a city. It also provides aggregate information for New England states and for the region as a whole
One problem low-income communities may face in trying to revitalize is dealing with a high share of residents who are returning home after serving prison terms. Returning citizens often concentrate in low-income areas, and they typically lack the education and skills needed to find jobs. In this Commentary from the Cleveland Fed, a researcher examine these and other barriers to employment, estimates the degree of unemployment, and describes some solutions emerging for this population.
The Kansas City Fed summarizes findings from a series of roundtable discussions held on the issues of workforce development and the chronically unemployed.
This paper from the Kansas City Fed provides a detailed overview of the U.S. student loan market, presents new statistics that highlight student loan debt burdens and delinquency rates, and discusses current concerns among many Americans about student loans, including their fiscal impact.
The Kansas City Fed provides fact sheets for employees to understand and make the most of their paychecks. The additional resources for employers can be used to reinforce the information provided in the fact sheets.
A study of the underbanked and unbanked in the Tenth Federal Reserve District looks at households who rely on non-banks to meet all or some of their basic financial needs.
The summer 2013 issue of 5E Navigator examines student loans and directs readers to information and tools for managing student loan repayment.
The March 2014 issue of the 5th District Footprint looks at earned income tax credit (EITC) usage and its potential economic benefits within Fifth Federal Reserve District zip codes.
This article explores the roles of community colleges across the Seventh Federal Reserve District in addressing worker skill gaps. U.S. Census data indicate the percentage of the population with at least a high school degree has been increasing since 1970, as has the percentage of the population with post high school education (if not a four-year degree). During that time, the percentage of people with some college or a college diploma increased 160 percent. While these trends are encouraging, demands in the labor marketplace for technically skilled workers reinforce the value of investment in skills training. Published by the Chicago Fed’s Community Development and Policy Studies Department (CDPS)
This article provides a recap of the Asset Development Summit for Persons with Disabilities Summit, which brought together Chicago-area disability and asset building partners to discuss how to work together to expand economic empowerment opportunities for persons with disabilities. The February 2013 summit was hosted by the Chicago Fed’s Community Development and Policy Studies (CDPS) Division.
Suburban communities in the Minneapolis-St. Paul region now have nearly as many impoverished residents as the central cities, and local assistance organizations are modifying their approaches in response to the change. From the January 2013 issue of Community Dividend, a publication of the Minneapolis Fed.
It's hard to argue against the value of education these days, but with so many adult workers lacking a college degree, we set out to learn more about the prospects today for young workers with no plans to get a four-year degree. This report describes the patterns of education, employment, and wages in eight metro areas of Ohio, Pennsylvania, and Kentucky and how they stack up against the 100 largest metros in the U.S. Young workers in Pittsburgh, it turns out, are in a relatively strong position. We point to relevant labor market research as we examine the prospects of workers in the region without a college degree.
These data briefs from the Community Development team at the Cleveland Fed examine the educational attainment levels, employment status, and occupations of workers in four MSAs in Ohio, Pennsylvania, and Kentucky, with a primary focus on those aged 18 to 35 with no post-secondary degree.
Helping people who have criminal records find sustained, gainful employment could help produce savings and benefits for both the ex-offenders and society at large. From the October 2013 issue of Community Dividend, a publication of the Minneapolis Fed.
This Infographic from the Richmond Fed presents key facts about homelessness in the U.S. and within the Fifth Federal Reserve District.
The August 2013 issue of 5th District Footprint examines the distribution of manufacturing employment in the Fifth District. Counties with high concentration of manufacturing employment tend to be located close to transportation networks, have low population density and are near other counties that also have a high share of manufacturing jobs.
This issue of Community Scope (2013, Volume 3, Issue 1) explores the re-employment experience of displaced Pillowtex textile workers in North Carolina following the largest permanent mass layoff in the state’s history. The study focuses on the assistance strategies and reemployment outcomes in the counties with the largest concentration of displaced workers and highlights the challenges and opportunities involved in the process.
This analysis of consumer credit bureau data by the Philadelphia Fed finds that between 2002 and 2010, the number and proportion of consumers with a credit report fell in low- and moderate-income neighborhoods and rose in higher-income neighborhoods, largely as a result of residential migration. The paper also finds slower growth in the credit bureau sample in low- and moderate-income neighborhoods during periods of credit contraction.
In this inaugural issue of the 5th District Spotlight, produced by the Richmond Fed, key facts about the unbanked populations in the U.S. and within the Fifth Federal Reserve District are presented in an Infographic format.
The June 2013 issue of 5th District Footprint reveals that West Virginia has the highest and District of Columbia has the lowest student loan deliquency rates in the Fifth District. Student loan delinquency rates were above the national average in more than half of the Fifth District counties.
As an alternative to going to a bank or an automatic teller machine (ATM), some consumers receive cash back from purchases made with their debit card or electronic benefit transfer (EBT) card at retail stores.This April 2013 issue of 5th District Footprint explores patterns in cash back transactions in the Fifth District using data from a national retailer selling mainly food and household items.
Ohio’s workforce development system is complex and fragmented. Despite still-high unemployment, for example, employers complain of not being able to find workers to fill open positions. In 2013 the Cleveland Fed talked with individuals across the state about the biggest challenges facing employers, educators, and job seekers alike. We also learned of some integrative approaches that appear to be working. Read about our findings in this special report.
This research brief from the San Francisco Fed examines household net worth and asset ownership in 2005 and 2011 across different demographic groups and provides an overview of some of the issues around household financial stability, why balance sheets mattered so much going into the recession, and how they are impacting the subsequent recovery.
The Spring 2013 issue highlights research on the impact of the Great Recession on low- and moderate-income communities. Also included are FAQs about the Fed's role in community and economic development, an interview with NeighborWorks America's Midwest director, CRA 101 tips for nonprofit organizations to work more effectively with financial institutions, and an overview of workforce development initiatives.
To learn more about the decreased labor force participation rate and skills mismatch of young people, particularly in post-industrial cities and their surrounding regions, the Philadelphia and Cleveland Feds held five listening sessions across Pennsylvania in 2013. In this report we distill and document what we heard, including local strategies to better align education and employment initiatives in order to improve job opportunities for this demographic, along with ways to increase engagement and collaboration among a broad group of stakeholders.
A resource from the Dallas Fed for consumers, community leaders, teachers and students available in print, online interactive and mobile app as well as lesson plans and interactive whiteboard apps for teachers. Building Wealth covers the basics of setting financial goals, budgeting to save, saving to invest, building credit, controlling debt and protecting the wealth you accumulate.