Watch our Economic Letter video with Adam Shapiro, Vice President, Economic Research, to learn more about our measurements of ...

U.S. labor productivity initially surged in 2020 during the COVID-19 pandemic, despite the massive economic upheaval. As the economy recovered, the level of productivity retreated to its slow ...

Regional data provide indicators measuring characteristics of the dual mandate across the nation. This page provides data on labor market conditions, prices, and earnings for the 50 states and the ...

U.S. net international migration (NIM) grew at historically high rates over the past several years. An update of earlier San Francisco Fed analysis (Duzhak 2024), using new and revised data on the ...

This SF Fed Blog updates estimates first published in our FRBSF Economic Letter “Recent Spike in Immigration and Easing Labor Markets by economist Evgeniya Duzhak. The Federal Reserve Bank of San ...

This paper reviews how productivity has evolved around the world since the pandemic began in 2020. Productivity in many countries has been volatile. We conclude that the broad contours of productivity ...

Inflation still lies somewhat above the Federal Reserve’s 2% goal after slowing significantly since its spring 2022 peak. Analysis shows that two labor market indicators—the ratios of job vacancies to ...

Economists Regis Barnichon and Adam Shapiro find that recent inflation dynamics can be at least partially explained by patterns of excess demand in the economy. In this Economic Letter video, Adam ...