Imagine an economy where racial and gender economic disparities in the labor market no longer exist. Would there be more shared prosperity for everyone? That's the question behind a new state gross domestic product (GDP) simulation from community development experts across the Federal Reserve System.
A team of Federal Reserve community development experts conducted a thought experiment to find out.
Visit the External Linkinteractive dashboard to select a state and find out how GDP would have increased annually if racial or gender gaps, or both, were eliminated for key measures: average hourly earnings, educational attainment, employment-to-population ratio and hours worked. (Check out the External Linkmethodology for more details.)