The best predictor of someone from outside the labor force finding a job is how recently the person
was employed. Between 1999 and 2019, the composition shifted towards people out of work for longer.
Consequently, the pool has become less employable. Though the group is larger, it does not signify
additional labor market slack beyond that accounted for by the standard unemployment rate.
"I encourage everyone here to think about how the work we do every day affects the spectrum of people outside our walls, privileged and disadvantaged, so we can continuously affect better outcomes," says Bina Shrimali, a senior researcher with the San Francisco Fed’s Community Development team.
We like to say we work for the Fed, not at the Fed. That’s because the SF Fed is not just another employer or government agency. Here, you have the opportunity to become part of an important public service institution whose work touches lives across the globe.