Federal Reserve Bank of Philadelphia

August 10, 2023

Speaking at a webinar, Philadelphia Fed President Patrick Harker stressed the importance of qualitative data in understanding the labor market. Hosted by Fed Communities, the event focused on the recent Worker Voices report, a national Fed study that engaged job seekers and workers without a four-year degree. “For us as policymakers,” said Harker, “the soft data provided by Worker Voices are equally important as, if not perhaps even more important than, numbers-driven hard data in getting a full understanding of our economic situation.”

The study found that experiences during the pandemic changed what workers want and expect from jobs. Workers want to be treated with respect and dignity, have opportunities to gain new skills, build a satisfying career, and enjoy a work–life balance, Harker said. “The more we can bring the examples outlined in the Worker Voices report into our way of thinking, the better our chances of creating a strong, growing, and more inclusive American economy,” he said.

philadelphiafed.org

Worker Voices Show Us What the Data Do Not

Shifting Perspectives and Expectations on Employment, a Fed Communities Virtual Event | Philadelphia, PA

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