Investing in America’s Workforce: Improving outcomes for workers and employers

Workforce development issues have long been front and center in the Federal Reserve System. Each regional Bank focuses on issues unique to its local economies through community engagement, research and analysis, tools and resource development, and capacity building initiatives.

Collectively, this work helps advance the Federal Reserve’s mandate of supporting maximum employment, and the Community Development function’s focus on the needs of low- and moderate-income communities.

To make this work more accessible, External LinkFedCommunities.org has launched a new portal highlighting workforce development resources from across the Federal Reserve. New work will continue to be added to existing resources such as:

• An External Linkoverview of the history and rationale of the Federal Reserve’s engagement in workforce development by Sarah Miller, principal adviser for community and economic development at the Federal Reserve Bank of Atlanta,
• Research, best practices, and resources from more than 100 authors in the book External LinkInvesting in America’s Workforce: Improving Outcomes for Workers and Employers. Divided into three volumes, Investing in Workers, Investing in Work, and Investing in Systems for Employment Opportunity – this book explores specific workforce development programs and policies that provide positive returns to society, to employers, and to job seekers.
• External LinkSpecial topic briefs that share research, partnerships, and on-the-ground-insights from workers and employers.
• A roundup of essays, articles and research from across the Federal Reserve on policy initiatives, effective practices, and research findings.

Patrick Harker, past president of the Federal Reserve Bank of Philadelphia, was a strong advocate for the Fed’s workforce development initiatives. In a forward to the 2017 Investing in America’s Workforce publication, Harker emphasized workforce development as an investment rather than an expense. In his reflections at the launch of this new web portal, Harker notes, “The bottom line is that investments in workforce development build a more inclusive and equitable economy because a strong and skilled workforce is the backbone of stable and strong economic growth.”^_

To learn more, visit ‘External LinkInvesting in America's Workforce: Improving Outcomes for Workers and Employers - Fed Communities’ or contact Steven Shepelwich, Senior Community Development Advisor at steven.shepelwich@kc.frb.org.