Publications & Videos
Household Rental Debt During
This report estimates that, as a result of pandemic-related job losses, 1.3 million renter households will owe $7.2 billion in rental debt by the end of 2020. These households may be at risk of eviction when the national moratorium expires.
Gender Disparities in Financial Well-Being from the Survey of Household Economics and Decisionmaking
This report provides an in-depth analysis of gender differences with respect to individuals’ banking habits, credit access, and retirement planning from the Federal Reserve Board’s 2018 Survey of Household Economics and Decisionmaking (SHED). Meaningful gender differences are identified; however, findings from a complementary regression analysis show that controlling for financial literacy mitigates the majority of those gender differences.
“Forced Automation” by COVID-19? Early Trends from Current Population Survey Data
In June 2020, Pennsylvania laid off 500 toll collectors after the interstate system temporarily went cashless. This is just one example that has increased concerns about whether the pandemic has accelerated the pace of automation. This discussion paper provides the first empirical analysis of the impact of COVID-19-induced automation on job losses.
Exploring a Skills-Based Approach to Occupational Mobility
Published by the Federal Reserve Banks of Philadelphia and Cleveland and based on an analysis of tens of millions of online job advertisements in the 33 largest metro areas, this report finds a high degree of similarity between the skills employers seek when filling lower-wage jobs and the skills demanded for opportunity occupations, or occupations that do not typically require a bachelor’s degree and that pay above the national annual median wage (adjusted for local cost-of-living differences). For nearly half of the lower-wage employment analyzed, we identify at least one higher-paying occupation requiring similar skills in the same metro area. We also find that transitions to similar higher-paying occupations would represent an average annual increase in wages of nearly $15,000, or 49 percent. Paired with targeted training, hiring processes that recognize the portability of skills across occupations could not only promote economic mobility for lower-wage workers but also help meet the talent needs of employers.
Student Loan Debt in Philadelphia
This report provides an in-depth analysis of the geographic distribution of student
loan debt — and distress — in Philadelphia. It reveals that borrowers living in
different zip codes have drastically different experiences with respect to how much
they owe, the degree to which they struggle with repayment, and the extent to which
they become delinquent. This report also discusses the implications of student loan
debt for individual borrowers and the economy as a whole.
Spotlight on the Philadelphia
This brief examines home repair needs by household and unit characteristics in the
Philadelphia metro area.
How Are Cities Leveraging
Opportunity Zones for Community Development? — Philadelphia as a Case
Enacted as part of the Tax Cuts and Jobs Act of 2017, Opportunity Zones are designed
to spur economic development and job creation in economically distressed communities
by providing tax benefits to investors who make eligible investments into these
areas. Using Philadelphia as a case study, our research finds that gentrifying areas
were much more likely to be designated as Opportunity Zones in the city, although
these neighborhoods generally had higher levels of economic distress than
Measuring and Understanding
Home Repair Costs: A National Typology of Households
This report, published jointly by the Federal Reserve Bank of Philadelphia and
PolicyMap, combines detailed, nationally representative survey data on housing
quality issues with estimates of the costs of reasonable repairs to model the total
costs of addressing substandard housing conditions nationwide. In a recent survey,
more than one-third of households reported experiencing at least one housing
problem, with the national cost of addressing reported deficiencies estimated at
$126.9 billion in 2018.
The Effects of Gentrification
on the Well-
Being and Opportunity of Original Resident Adults and Children
We use new longitudinal census microdata to provide the first causal evidence of how
gentrification affects a broad set of outcomes for original resident adults and
children. Gentrification modestly increases out-migration, though movers are not
made observably worse off and neighborhood change is driven primarily by changes to
in-migration. At the same time, many original resident adults stay and benefit from
declining poverty exposure and rising house values. Children benefit from increased
exposure to higher-opportunity neighborhoods, and some are more likely to attend and
complete college. Our results suggest that accommodative policies, such as
increasing the supply of housing in high-demand urban areas, could increase the
opportunity benefits we find, reduce out-migration pressure, and promote long-term
Revisited: Exploring Employment for Sub-Baccalaureate Workers Across Metro Areas
and Over Time
This report finds that opportunity employment — defined as employment
accessible to workers without a bachelor’s degree and typically paying above
the national annual median wage, adjusted for regional differences in consumer
prices — accounts for 21.6 percent of total employment in the metro areas
analyzed. The report also illustrates how the local mix of occupations,
employers’ educational expectations, and the cost of living combine to expand
or limit local opportunity relative to national conditions.
conference summaries, Special Reports, Discussion Papers, and Cascade.