Low workforce participation beyond what might be expected by simply demographic trends has also stained the economic recovery. Sharp disparities in income and opportunity at different income levels mean vastly different job-market experiences and financial outlooks depending on where a household stands. Research and survey from regional Fed banks found the problem to be pervasive around the US. Now, the low official unemployment rate makes the Fed's locally tailored interventions - which involve convening community groups, government actors, and the private sector - to find solutions to pressing social problems more important than ever. When unemployment was peaking at 10%, massive fiscal and monetary stimuli were the obvious solutions to the problem, and they are widely credited with having prevented a second Great Depression. That's now attracting increasing attention from officials at the Federal Reserve as the central bank becomes more involved in community development, one of its key but often overlooked functions. A mix of urban-suburban sprawl and a well-documented lack of upkeep with US transportation infrastructure leaves many workers in precarious situations, despite a 17-year-low unemployment rate of 4.1%. The challenge she faces represents a threat to viable employment that affects millions of Americans but is hardly on the radar screen of politicians or economic policymakers. There's not enough money to go around, so just getting transportation is a big deal." "I'm a single mom of three kids recently separated from my husband,” Keyes told Business Insider. Sometimes, if the bus is running late, she has to take a taxi, which sets her back financially. Keyes then rushes to her job as a warehouse picker for a supplier of horse-riding gear. She takes a bus to get to the second one. That's just to get to the first of two daycare centers. She then walks a half-hour to downtown Scranton with her three kids by her side, recently in freezing temperatures that make her littlest one shiver. At 5, she wakes her kids (ages 2, 4, and 6), and gets them ready for school. Keyes' day has her waking up at 4 in the morning. But that was only half the battle - getting to work was the other. It often indicates a user profile.įor Nichole Keyes, a 28-year-old single mother of three young children, landing a job as a warehouse picker in Scranton, Pennsylvania, proved difficult enough. Account icon An icon in the shape of a person's head and shoulders.
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