New Reports! Power of Partnership in Strengthening the Philadelphia Fed Regional Economy

On behalf of the Philadelphia Fed, thank you for your continued partnership and the important work that you do to support a strong economy. We strive to be a resource to you through our data-driven research, ongoing community engagement, and ability to convene stakeholders around shared solutions to economic challenges. Our work in 2024 included:

• a comprehensive update to the Occupational Mobility Explorer, which now includes nearly 600 job titles across more than 500 U.S. locations. This resource allows users to explore career paths and visualize how job skills needed for specific occupations can transfer to higher-paying occupations in the same geographical area.
• launching the Banking Deserts Dashboard to provide insight into regions and communities that do not have local bank branches. This tool is part of ongoing research by the Federal Reserve Banks of Cleveland and Philadelphia to better understand how the decline of bank branches across the nation may be impacting low-income communities.
• advancing a national conversation about the importance of hospitals and higher education institutions to local economies. The 2024 Anchor Economy Conference highlighted research on the economic impacts of anchor institutions in regions and engaged community leaders, researchers, and experts in a meaningful discussion about anchor economies. Our ongoing Anchors for Equity Research in Action Labs are also exploring how to leverage partnerships with anchor institutions in local workforce development efforts.

As we look ahead, we’re excited to host the Economic Mobility Summit in Philadelphia on April 22 and 23, 2025. We aim to bring together community leaders, policymakers, researchers, experts, advocates, and others from across the nation to highlight the importance of economic mobility to the U.S. economy; identify ways to advance research into actionable strategies; and elevate best practices for community-led, cross-sector collaboration that can increase economic opportunity and mobility in regions. We encourage you to register and reserve your seat today!

As always, we will keep you updated with the latest events, research, and ways to engage with us and the Federal Reserve System in the months ahead.

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