Economic Letter

Supply Chain Disruptions, Trade Costs, and Labor Markets

Global supply chain disruptions due to the COVID-19 pandemic have increased the costs of trade between countries. Given the interconnectedness of the U.S. economy with the rest of the world, higher trade costs can have important impacts on U.S. labor markets. A model of the U.S. economy that incorporates variation in industry concentrations across regions can help quantify these effects.

The SF Fed’s Commitment to Equity

The San Francisco Fed is dedicated to building an economy that works for everyone and helping ensure all Americans have the opportunity to fully realize their potential. We champion equity because research has demonstrated it supports our full employment mandate and our mission to promote a healthy and sustainable economy.

Career Opportunities

The San Francisco Fed is dedicated to building an economy that works for everyone. We thrive on reflecting the people we serve by hiring talented individuals from diverse backgrounds and creating a culture of inclusion where people are respected for what they do and for who they are.