Regional Matters
Results from a recent national Fed survey show that community development financial institutions (CDFIs) and the communities they serve are facing less severe disruptions than last year. Still, staffing and other challenges are preventing CDFIs from fully meeting growing demand for their products and services.
Hispanic postsecondary enrollment has nearly doubled in the Fifth District over the past decade, contributing to increased diversity across college campuses. Organizations work to engage Hispanic youth throughout the college application and attendance process to ensure their success as college students.
While more than a third of businesses expect to expand their workforce in the coming year, some firms have started to reduce headcount by not replacing outgoing workers. Most businesses would take that approach, or keep employment steady, if demand softened in the near future.
Our Fifth District business surveys indicate that firms are paying more attention to inflation as they make price- and wage-setting decisions. But businesses also expect own-price growth and inflation to moderate in the near future.
After accounting for cost of living, teachers' salaries go further in some rural communities throughout the Fifth District.
Where people work relative to where they live is a good indicator of how connected counties are to one another. This post explores the extent to which urban and rural counties in the Fifth District are connected by exploring commuting patterns.
The Recompete Pilot Program intends to boost economic competitiveness in selected underperforming areas by dispersing grants to fund proposed infrastructure, workforce, and business development activities.
Over the past year, firms have had difficulty finding workers. Recent evidence from Fifth District business surveys indicates the difficulty is shifting from lower- to higher-skilled hires.
With assistance programs winding down, evictions are on the rise but have not surpassed pre-pandemic levels.
Labor force participation in Maryland and Virginia is down considerably compared to 2019, but different age and gender groups have fallen out of the labor force in the two states.