The FED Said The coronavirus and efforts to mitigate its impact are having a transformative impact on many aspects of economic life, intensifying trends like shopping online rather than visiting brick-and-mortar stores and increasing the incidence of working from home. Indeed, many tech giants have already made working from home a permanent option for employees. Working from home, or telecommuting, is […] Read more
The FED Said Economic activity in the Southeast dropped sharply from the middle of February through March as the COVID-19 pandemic spurred business shutdowns and job losses, according to the Federal Reserve’s latest Beige Book report on regional economic conditions. Across the Federal Reserve Bank of Atlanta’s coverage area, which includes the states of Alabama, Florida, Georgia, […] Read more
The FED Said Workforce CurrentsStuart AndreasonMarch 18, 2020 As coronavirus 2019 (COVID-19) spreads around the world and across the United States, many policymakers and public health officials are encouraging employers to tell workers to work remotely or to stay home when they or their family members are sick. There are significant questions, though, about how […] Read more
The FED Said Despite a generally robust economy, skills training is critical amid long-term and cyclical labor force challenges For years, Goodwill of North Georgia ran a successful program training unemployed and underemployed people in highway construction. That made sense: during the 1980s and ’90s, metropolitan Atlanta added about 1,000 lane-miles of freeways. When highway […] Read more
The FED Said The Federal Reserve Bank of Atlanta’s Beige Book survey of regional economic conditions reported that economic activity in the Southeast softened slightly in recent weeks. Published September 4, the report says business contacts reported slowing activity during late July and August in sectors including manufacturing, hospitality, and residential real estate. Although sales remained steady, […] Read more
The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity Sixth District business contacts reported that economic activity continued at a modest pace from April through mid-May. The outlook among contacts remains optimistic as most firms expect modest growth to continue over the next three to six months. District firms continued to report […] Read more
The FED Said The share of the prime-age population engaged in the U.S. labor market is on the rise, led by a sharp rebound in the labor force participation (LFP) rate by prime-age female workers (those ages 25–54). This point was highlighted in a recent Wall Street Journal article. Since 2015 the LFP rate for prime-age women […] Read more
The FED Said Amid a largely positive Beige Book report on economic conditions in the Southeast, some small businesses report particular challenges competing with larger companies for a dwindling pool of available workers. Across the board, businesses continued to report pressure to increase wages for low-skill, hourly jobs, notably in the hospitality and retail industries. That’s good […] Read more
The FED Said Some of the most important forces that have molded Miami, economically and otherwise, emanated from outside Florida and even the United States. The evolution that largely produced today’s south Florida metropolis began 60 years ago. When Communists seized power in Cuba in 1959, a wave of exiles fled north, beginning a continuing […] Read more
The FED Said As concerns about widening gaps in income and wealth permeate economic policy discussion, the Federal Reserve Bank of Atlanta assembled some of the field’s leading thinkers to explore the roots of inequality from various perspectives. When considering a topic as complex as inequality, economists and policymakers advance numerous questions such as the […] Read more
The FED Said In October 2017, Amazon ignited a frenzy among economic developers. When the company announced plans to open a second North American headquarters and staff it with 50,000 high-paying jobs, more than 200 cities, counties, and states made formal bids. Many jurisdictions promised publicly financed incentives—packages of tax breaks, free land, grants, and […] Read more
The FED Said The latest U.S. jobs reports shows that employment growth remains strong in the United States, helping push the unemployment rate to its lowest level in nearly 50 years. Although employment growth in the Southeast generally mirrors national trends, a look below the hood shows that the jobs recovery from the Great Recession has been […] Read more
The FED Said (Federal Reserve System) Developments in artificial intelligence (AI) and machine learning (ML) have drawn considerable attention from both the real and financial sides of the economy. The Atlanta Fed’s recent Financial Markets Conference, Machines Learning Finance: Will They Change the Game?, explored the implications of AI/ML for the financial system and public policy. […] Read more
The FED Said (Federal Reserve System) With U.S. unemployment down to levels not seen since 2000, job seekers are gaining the upper hand in the labor market as employers struggle to fill positions across skill levels. Such hiring difficulties are prompting some employers across the Southeast to raise pay. “We’ve been hearing that wage pressure […] Read more
The FED Said (Federal Reserve System) Overall US Economic Activity Economic activity continued to expand across the United States, with 10 of the 12 Federal Reserve Districts reporting moderate or modest growth. The outliers were the Dallas District, which reported strong growth driven in part by the energy sector, and the St. Louis District where […] Read more