Skip to Main Content

How Tariffs Could Affect South Carolina’s Globalized Economy

Read More >

As a regional Reserve Bank, we’re driven by our public service mission to strengthen the economy and our communities across the Fifth District.

Careers photo of John

Our new SOS Recession Indicator uses weekly data on unemployment insurance claims. That gives us one of the highest frequency measures of labor market conditions. It can also give us earlier recession signals compared to other indicators, like the monthly unemployment rates.

John O’Trakoun
Senior Policy Economist, Federal Reserve Bank of Richmond

Speaking of the Economy Podcast: A New Way of Detecting Recessions

By the Numbers

50%

of respondents to our June Surveys of Business Activity reported having the same level of difficulty in hiring workers as this time last year. The applicant pool — both the quantity and quality — had the largest impact on making the hiring environment harder or easier.

Ashley Smoral

“I fell in love with the Fed when I realized just how much opportunity there was.”

- Ashley, Human Resources