Federal Reserve Bank of Boston

Is a criminal history a life sentence in the labor markets? Research consistently shows employers have a bias against ex-offenders. That matters because ex-offenders are a surprisingly large portion of the population. And if potentially productive workers are underemployed because of a criminal history, that’s a drag on the labor markets. Efforts to try to make it easier for someone with a criminal history to find work have tended to focus on getting past the stigma that comes with it. But it hasn’t worked. One ex-offender tells the Boston Fed’s Six Hundred Atlantic podcast she’s working hard to rectify her mistakes, and all she’s looking for is a second chance: https://bit.ly/3Y71fSK

The Boston Fed is looking for an auditor to assist with performing and coordinating audits through risk evaluation in financial and operational areas. The position will also include reviewing records, preparing reports to management, and improving the audit function’s effectiveness both locally and System-wide. To learn more and apply, visit https://bit.ly/4cEnILv

Why does the U.S. have one of the lowest rates of women working among industrialized countries? The Boston Fed’s Six Hundred Atlantic podcast looks at two reasons: the rise of “performance pay” and a lack of “family policies.” https://bit.ly/3XITzpC

New England’s employment grew at a year-over-year rate of 1% in May 2024, close to the rate observed before the onset of the COVID-19 pandemic. Learn more in the latest New England Economic Conditions report, written by Boston Fed economist Bo Zhao: https://bit.ly/4cY3vjj

What happens when a bank’s ability to meet demand for cash takes a hit – and how does that impact the other banks it’s connected to? A new working paper published by the Bank’s Supervisory Research and Analysis group explores how a “shock” to one bank’s liquidity can ripple across a network of firms – especially in times of crisis, such as the COVID-19 pandemic. Read more: https://bit.ly/3LivhLB

Gig workers are everywhere. Maybe they’re driving for Lyft and Uber or prepping a room in their home to rent. But despite their prominence, the labor market contributions of gig workers are being overlooked in official employment statistics. Boston Fed researcher Mary Burke tells the Six Hundred Atlantic podcast there are shortcomings in the main survey used to measure U.S. employment. She says it might be missing as many as 7 million workers. Burke says policymakers need a better indicator of gig work numbers, or they don’t have a true picture of the labor markets: https://bit.ly/3Ljdyno

A new article series, “In Conversation,” highlights members of the Boston Fed’s advisory groups. Rebecca Hatfield is the CEO and President of the Maine nonprofit Avesta Housing. Rebecca outlines her many roles - including being a mother - and discusses how she transitioned from corporate finance to the non-profit sector. “I made the change because I’ve always had a mix of being analytical and strategic, but also very compassionate,” she said. “I’ve always had the desire to make a difference in the world by helping people.” Read the Boston Fed’s first “In Conversation” piece: https://bit.ly/4bypagQ

The Boston Fed wishes you a safe and happy Independence Day.

For decades after World War II, the number of American women working was on the rise. Then, in the mid-1990s, it flatlined. Now, 30 years later, the U.S. has gone from having one of the highest rates of women working among industrialized nations to one of the lowest. What happened? There are a lot of answers to that question. We look at two of them in the latest episode of Six Hundred Atlantic. One is the rise of “performance pay” and the 70- to 80-hour work weeks those jobs can demand – and that women caring for children can’t give. The other is a relative lack of support in the U.S. for “family policies” – things like government-funded parental leave or child care. Hear from women dealing with these issues: https://bit.ly/3XITzpC

Can wage growth remain strong without putting additional pressures on prices? According to Boston Fed economists, the answer is yes, thanks to productivity improvements made during the COVID-19 pandemic. Read the new Current Policy Perspectives for more on why wage growth could remain strong without causing inflationary pressures: https://bit.ly/3RKSgCz