Millions of American workers have left the labor force since the end of the recession in 2009. Who are these missing workers? What are they doing, and how are they making ends meet? The cover story in the latest issue of Region Focus magazine looks at these and other questions about the drastic drop in labor force participation.
Also in this issue:
• The value of staying put — Why are Americans becoming less mobile geographically? It's not just because of the housing crisis.
• When monetary policy is redistributional — Who wins and who loses from decisions of the Federal Open Market Committee?
• Shale gas — New drilling techniques are bringing back cheap energy. What's the risk?
• President's Message — Richmond Fed President Jeffrey M. Lacker on why Federal Reserve Banks have bankers on their boards.
• Interview — John A. List of the University of Chicago discusses the use of field experiments in economics.
Region Focus is the economics magazine of the Federal Reserve Bank of Richmond. It covers economic issues affecting the Fifth Federal Reserve District (the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia) and the nation.
For free copies of Region Focus, contact the Bank's Research Publications division at (800) 322-0565. The articles are available online at http://www.richmondfed.org/publications.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.