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.
Community Colleges and Industry: How Partnerships Address the Skills Gap
In this edition of ProfitWise News and Views we document two events held at the Chicago Fed this year: the annual Neighborhood Housing Services of Chicago community banks forum, and the National Disabilities Institute Asset Development Summit. Our feature article, by Senior Research Analyst Emily Engel, explores the roles of community colleges across the Seventh District in addressing worker skill gaps. Findings of the Fed’s Industrial Cities Initiative (ICI), a variety of academic studies, and surveys of manufacturers and other industrial employers have all indicated a skills gap among workers, particularly those with less education than a bachelor’s degree. An updated ICI report, further exploring this topic in 10 midwestern cities, will be released this quarter. Download the current issue.
Mapping the Recovery: Sentiment Survey of Small Business Intermediaries in Chicago
In our continuing efforts to support and understand the roles of small businesses in our local and regional economy, we polled organizations that provide technical assistance to Chicago businesses. The edition provides detail on perceptions of these groups, which serve businesses across the city, about the small business climate pre- and post-recession.
The Fed’s Community Development and Policy Studies division has developed various polling instruments to gauge conditions in the Seventh District, in particular those that impact low- and moderate-income populations. We thank the City of Chicago Department of Housing and Economic Development for their partnership and assistance in distributing our poll for this study. Download the current issue.