For decades, Americans took this famous advice: “Go West, young man!” But fewer are today. Interstate migration has been dropping for decades. People aren’t moving, even from bad economic situations or places with no future. The question is whether the unwillingness or inability of people to move is worsening regional economic and social divisions.
The Boston Fed has long studied New England’s opioid crisis because of its economic impacts. In this episode, Boston Fed writer Amanda Blanco and photographer Steve Osemwenkhae discuss what they learned from talking with people fighting addiction and helping others overcome it.
The condition of U.S. currency–including whether it’s genuine–is the business of the Federal Reserve because healthy currency is essential to keep the economy moving. But how does the Fed know when notes aren’t “fit for commerce?” Or when they’re fake?
The pandemic could have wiped out cash, as people increasingly turned to online and touch-free transactions. Instead, cash usage fell, then held steady. Why? In this episode, we examine cash’s future and the Fed’s role in keeping it available.
Researchers have long investigated why some races have more wealth than others, and inheritances and other forms of intergenerational wealth are often seen as major factors. But Federal Reserve Bank of Boston economist Jeff Thompson says they play a minor role.
Personal excess savings in the U.S. reached extraordinarily high levels during the pandemic, peaking between $2.0 – $2.6 trillion in 2021. That’s equal to 10% of the nation’s gross domestic product. Economists believe these savings helped keep the economy moving during post-pandemic inflation because consumers could use that money to keep spending.
But there’s wide disagreement about how much of these excess savings is left – and what happens when it’s gone. In this episode of Six Hundred Atlantic, Boston Fed economist Omar Barbiero discusses why excess savings matter, why estimates vary widely, and what surprised him when he studied how fast savings were being depleted across income groups.
Opioid-related deaths spiked more than 60% in two years during the pandemic, and that intensified the focus on treating opioid use disorder. But do some treatments impact employment prospects more than others?
In this episode of Six Hundred Atlantic, Boston Fed senior economist Mary Burke discusses certain opioid use disorder medications and how they affect job prospects for patients and reduce the economic burden on society.
In the season’s final episode, we’re looking at two ongoing pandemic-era trends. One is the unexpected surge in startups. The other is the increasing influence of automation. What do these trends and others tell us about what’s ahead for labor markets?
Some economists say the rise of remote work may be the pandemic era’s most lasting trend. And they say it comes with big benefits, like better work-life balance. But a drop in commuters could hurt cities. And others predict a remote work pullback is coming soon.
The headlines during the pandemic spoke of a Great Resignation. And millions of “missing jobs.” And a mass and permanent exodus of women from the workforce. But during the pandemic, things weren’t always what they first appeared to be.
Some thought the 20 million jobs lost in the first month of the COVID-19 lockdowns was the start of a brutal downturn. But labor markets somehow quickly bounced back. In this overview, we examine fears that weren’t realized and changes that look lasting.
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