This Federal Reserve System video explains the Small Bank and Intermediate Small Bank (ISB) CRA Examination in practical and understandable terms. View the video on the Richmond Fed's CRA page or on YouTube.
The Peer City Identification Tool (PCIT), developed by the Community Development and Policy Studies division of the Federal Reserve Bank of Chicago, is a data comparison and visualization instrument that can help policymakers and practitioners understand a municipality in the context of peer cities. Drawing on city-level indicators from the American Community Survey and historical Decennial Census records, the PCIT performs a cluster analysis to identify groups of similar cities along economic, demographic, social and housing dimensions. The 300 cities included in the dataset had a population of at least 50,000 in 1960. Today, they have a median population of just over 100,000. All cities meeting this historical criterion are included in the tool, with a few cities excluded due to data consistency concerns. Check out the tool.
Young workers in the United States experience higher rates of unemployment than the population as a whole but are nonetheless generally optimistic about their job prospects, according to the Federal Reserve Board’s new report. The report, which presents data collected in 2015 as part of the Board’s second Survey of Young Workers, provides a snapshot of the educational attainment, employment experience, job market outlook and financial self-sufficiency of 18- to 30-year-olds. Overall, the survey reveals that 61 percent of respondents are positive about future employment opportunities, compared with 45 percent in 2013. It also shows that respondents with postsecondary education and those who are currently employed are more likely to be optimistic about future job opportunities. Read the report (PDF).
The Community Development departments of the 12 Federal Reserve districts have developed a new podcast series that addresses important social issues like economic mobility, affordable housing, small-business development and community reinvestment. Each episode will showcase successful program models that provide access to opportunity for low- and moderate-income individuals and families. They are available on the Access website, iTunes and Stitcher.
This guide from the Federal Reserve banks of Dallas and Kansas City 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 CRA. It includes a Performance Context Template for banks to use in telling their CRA story. Appendixes include resources and workforce experts from around the Federal Reserve System. Read the guide.
Is a bachelor’s degree necessary to get a decent-paying, middle-skills job? It depends on where you live. This new report by researchers at the Federal Reserve banks of Atlanta and Philadelphia investigates the level of education preferred by employers for four “opportunity occupations”—jobs that pay at least the national annual median wage and that historically haven’t required a four-year college education. Read the report.