The Yale Labor Survey (YLS) currently covers labor market activities from early April 2020 through the week of August 2-8. Data are not seasonally adjusted. The survey’s key findings are as follows:

The Yale Labor Survey (YLS) currently covers labor market activities from early April 2020 through the week of August 2-8. Data are not seasonally adjusted. The survey’s key findings are as follows:

This webinar is an opportunity for tribal businesses to learn about the lending facilities offered by the Main Street Lending Program. The session will provide an overview of the program including terms, conditions, and eligibility requirements. The session will focus in particular on issues of interest to tribal businesses, including the waiver of CARES Act restrictions relating to dividend distributions made by tribal businesses to tribal governments. The webinar is also an opportunity for participants to get answers to questions from officials from the Federal Reserve.

The Main Street Lending Program is designed to support small and medium-sized U.S. businesses and nonprofit organizations during this period of financial strain by giving these businesses and nonprofit organizations access to additional credit. The program is intended to help businesses and nonprofits that were in sound financial condition prior to the onset of the COVID-19...

The Federal Reserve Bank of Boston works with leaders in New England’s smaller cities, regions, and towns to build local economies that give all residents more opportunity to prosper.

Update: Details follow on new legislation, which authorized the Small Business Administration (SBA) to approve Paycheck Protection Program (PPP) loan applications through August 8, 2020. This is an extension from the SBA's original deadline of June 30, 2020. Additionally, legislation passed in June 2020 also provides borrowers with more control over the use of funds and makes it easier to obtain loan forgiveness.

Across the country, people are feeling the effects of the coronavirus pandemic, and here in New England, it’s no different. Although we are all affected in some way by the sudden and severe economic consequences of this virus, we are seeing that those who were already most vulnerable are suffering the worst outcomes.

In response to the undue economic stress caused by the pandemic, Congress passed the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March 2020. The Act provides financial assistance for individuals and...

Joselyn Rosario Santiago picks up the 45 bus in Boston’s Roxbury neighborhood for her commute to downtown Boston’s Financial District—an area of the city she didn’t know well even though she grew up just a few miles away. But now, this is where she works, at the Federal Reserve Bank of Boston. And this is where she says she’s being given a chance to show what she can do for the first time.

“Before I started working here at the Bank, I didn’t really listen to what anyone had to say to me,” Rosario Santiago said. “A lot of people did underestimate me. I knew I was capable of doing good things, but people didn’t give me the opportunity.”

Rosario Santiago has been making the trip to the Boston Fed for a year and a half as part of the Bank’s work and learning internship program, Today’s Interns, Tomorrow’s Professionals (TIP).

Students nationally who are pursuing internships have found themselves in uncertain situations, as high school, undergrad, and graduate internships were altered or cancelled due to the COVID-19 pandemic. But the Boston Fed’s multiple internship programs have evolved and adapted so the Bank’s 46 summer interns can get most out of the remote workplace environment.

“The interns are working from home too!” said Dawn Hicks, manager of the Boston Fed’s Today’s Interns, Tomorrow’s Professional program, or TIP, which is a paid work and learning internship program for eligible Boston high school students. “It was pretty shaky in the beginning. It took a couple of weeks to figure out, ‘How are we going to do this?’”

Nailah Khoory, a Financial Support Office intern, said she’s learned to make the most out of meeting with coworkers because her program time is limited and she wants to get to know fellow Bank employees and their roles.

On July 17, 2020, the Federal Reserve announced an expansion of the Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations. This webinar is an opportunity for nonprofit organizations to learn about the new lending facilities for nonprofits. The session will provide an overview of the program including terms, conditions and eligibility requirements of the two new nonprofit loan options. The webinar is also an opportunity for participants to get answers to questions from senior officials from the Federal Reserve.

The Main Street Lending Program is designed to support small and medium-sized U.S. businesses and nonprofit organizations during this period of financial strain by giving these businesses and nonprofit organizations access to additional credit. The program is intended to help businesses and nonprofits that were in sound...

On July 17, 2020, the Federal Reserve announced an expansion of the Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations. This webinar is an opportunity for nonprofit organizations to learn about the new lending facilities for nonprofits. The session will provide an overview of the program including terms, conditions and eligibility requirements of the two new nonprofit loan options. The webinar is also an opportunity for participants to get answers to questions from senior officials from the Federal Reserve.

The Main Street Lending Program is designed to support small and medium-sized U.S. businesses and nonprofit organizations during this period of financial strain by giving these businesses and nonprofit organizations access to additional credit. The program is intended to help businesses and nonprofits that were in sound...

Like everything everywhere, the Working Communities Challenge and its work to improve life for residents in struggling rural areas of Vermont have been disrupted by COVID-19.

Currently, the eight regional teams in the initiative are seeking one of four $300,000 grants to tackle chronic challenges in their communities. But the intensive in-person training that would normally be ongoing as they strengthen their plans before a fall deadline is impossible due to social distancing requirements. All learning is now remote.

Meanwhile, the problems they identified have evolved or, in some cases, changed completely. And there are more obstacles as they seek to connect with each other and find new ways to face familiar challenges.

But the initiative’s leadership said the program is still making good progress. Rebecca Foster, a member of the Vermont initiative’s steering committee, said there’s real urgency to maintain the momentum...