ProfitWise News and Views
Articles on economic development news and trends including small business lending, labor trends and tax incentives to assist underserved communities; consumer issues such as predatory lending, credit scoring and identity theft; regulatory compliance topics; and research activities relevant to community development. Also includes a calendar of events and district news. View Guidelines for Authors.
The material in ProfitWise News and Views is not necessarily endorsed by, and does not necessarily represent views of the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of Chicago.
From Classroom to Career: An Overview of Current Workforce Development Trends, Issues and Initiatives
Extensive interviews conducted over the past two years as part of the Community Development and Policy Studies division’s Industrial Cities Initiative emphasized workforce development as a central concern among city leaders in the Seventh District. In an effort to clarify specific concerns falling under the umbrella of this multi-faceted topic, this edition of ProfitWise News and Views explores a range of current issues. Among other topics, we highlight: workforce-focused programs and research around the Federal Reserve System; trends in educational attainment and (resulting) wage disparity; skills gaps among those seeking work; employer efforts to train workers; and examples of current workforce development initiatives in the District. Download the Publication.
Resource Utilization among Black Small Business Owners in Detroit: Results from a Questionnaire
In this special edition of Profitwise News and Views, CDPS senior business economists Maude Toussaint-Comeau and Robin Newberger present findings from a poll of black small business owners in metropolitan Detroit, who were identified through metro area business chambers targeted to minority entrepreneurs. The survey seeks primarily to gauge resource needs, and the perceived value and degree of access to formal and informal networks designed to assist business owners. Given a relatively small sample size of approximately 55 respondents, the findings do not represent sentiments of black business owners broadly speaking. However, some distinctions between newer and older businesses, as well as businesses in the city versus suburban communities, may inform the priorities of technical assistance providers, business incubators, and lenders. Download the Publication.