Immigrant founders have been critical to the entrepreneurial ecosystem, accounting for roughly 20% of all venture capital-backed founders over the past 30 years. We document the channels through which immigrant founders arrive in the United States and how those channels have changed over time. Higher education has served as the primary entry channel for immigrant founders. The share of foreign-educated immigrant founders who initially arrive for work has decreased over time, while the share of immigrant founders with undergraduate education in the United States has increased over time. Immigrant founders are likely to start their companies in the state in which they were educated, leading to potentially large local economic benefits associated with attracting foreign students. The results of this paper have important policy implications for the supply of entrepreneurial talent and efforts to promote entrepreneurial ecosystems.

28 Jul ’22

Three briefs translate data from the Fed’s Small Business Credit Survey: 2022 Report on Employer Firms into bold infographics to paint a picture of small business conditions in the Third District (Delaware, New Jersey, and Pennsylvania).

Manufacturing activity in the region continued to expand this month, according to the firms responding to the September Manufacturing Business Outlook Survey. The survey’s indicators for general activity and shipments improved, but the new orders and employment indexes softened somewhat. Both price indexes remained elevated. The survey’s future general activity and new orders indexes continued to moderate, but the surveyed firms remained generally optimistic about growth over the next six months.

The 2021 ROC Cohort program focuses on equitable small business recovery after the COVID-19 pandemic through the lens of racial equity. Over 10 months, nine cohorts spanning communities across the U.S. will engage in equity-focused training and peer-to-peer learning and receive personalized support in developing their local small business recovery plans. The program will help them to explore structural racism impacting small businesses owned by people of color in their community and plan for a more equitable recovery. This year’s partners include the Federal Reserve Banks of Atlanta, Minneapolis, Richmond, and San Francisco.

An equitable workforce recovery means realizing the full potential of our talent pipeline by removing artificial barriers, providing investments and innovation, and investing in people. We explore these ideas in an introductory brief and as part of a Q&A series conducted with the following subject matter experts:

Let’s Get America Back to Work! Let’s #InvestInWork.

For the nation to achieve a strong jobs recovery, we need to work together to address the many issues and questions surrounding access and equity in the workforce.

Millions of job seekers are still facing challenges preventing them from actively participating in the workforce, while millions more are facing barriers that are keeping them from seeking and getting better-paying jobs that provide family-sustaining wages.

On September 1, WorkingNation, the Federal Reserve Banks of Atlanta, Philadelphia, and Kansas City, and Fed Communities are coming together to host the #InvestInWork Twitter chat to discuss these issues and surface solutions to these challenges.

We want to know:

An equitable workforce recovery means realizing the full potential of our talent pipeline by removing artificial barriers, providing investments and innovation, and investing in people. We explore these ideas in an introductory brief and as part of a Q&A series conducted with the following subject matter experts:

September 9, 2021 2:00 p.m. – 4:30 p.m. ET | 1:00 p.m. – 3:30 p.m. CT Virtual video event presented by all 12 District Banks of the Federal Reserve System

August 2021

With vaccines becoming available to all adults in the United States, this latest research brief focuses on how receptive or reluctant consumers were in getting vaccinated based on data from the Consumer Finance Institute’s COVID-19 Survey of Consumers.