Summary: And the “Beigie” Award goes to…. the Minneapolis Fed!! The Beige Book provides a snapshot of economic activity in the different Federal Reserve Districts every six weeks. Importantly, it does in a very qualitatively, often featuring anecdotes or observations from regional businesses. The Indicator’s favorite entry for this edition described both sides of the tight labor market. Employers enlisting private jets to fly workers to construction sites and fed-up hospitality workers starting their own businesses. We describe how you can set-up your own Beigie Award activity in class!
This week the Indicator talks with Economist Gbenga Ajilore, a senior advisor at the Department of Agriculture about the incorrect assumptions associated with life in rural America. He has studied these rural demographics and now advises policymakers away from these misguided ideas. They discuss the common misconceptions about these rural areas of the US relating to population, jobs, and migration. Some highlights Ajilore shares include: farming is not the only way of life, white people are not the only ones that live in rural areas, and that rural areas are not actually dying out.
Discussion Prompt: What are some other myths about rural areas that have an economic influence?
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