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Learn how to advance your career with the Chicago Fed, one of the 12 Reserve Banks in the Federal Reserve System. Explore opportunities in technology, professional services and more.
Explore diverse opportunities across business, technology, research, supervision, professional services, financial products and law enforcement at the Chicago Fed. Learn how to join the team that supports the U.S. economy and payment system.
Learn about the culture, work, opportunities and impact of working at the Chicago Fed. Explore career areas, diversity and inclusion initiatives, and community partnerships at the Bank.
Learn about the two-year program for recent graduates with a background in economics, mathematics, statistics, finance, or related fields. Research Assistants support the academic research and policy work of staff economists and develop quantitative and analytical skills.
“The law gives the Fed two jobs: Maximize employment and stabilize prices. If things get off track on either side, it is the Fed’s role to adjust monetary policy accordingly.” — Austan D. Goolsbee, President and CEO
This article studies the seasonal patterns of employment across industries and states in the U.S. economy and explores the relationship between seasonality and cyclicality. It finds that seasonality has declined since the 1960s and that there is no systematic link between seasonality and cyclicality.
While the pandemic caused major disruptions in employment nationwide, the childcare labor market was particularly hard hit and generally slower to recover. Total employment of childcare workers, as we’ve broadly defined, was still about 90% of its 2019 level by the end of 2023 (see figure 2).
The authors calculate that a $1.75 hike in the hourly federal minimum wage could increase the level of real gross domestic product (GDP) by up to 0.3 percentage points in the near term, but with virtually no effect in the long term.
This Spotlight on Childcare and the Labor Market is consistent with the Federal Reserve's mandate to maximize employment given that addressing the childcare challenge has the potential to promote job growth and participation in the labor force.
The report reviews the economy, monetary policy, and the Chicago Fed's roles and activities in 2023. It highlights the progress on inflation, the launch of FedNow, the new Credit Risk Management Support Office, and the outreach to the regions.