Government-Subsidized Training: A Plan for Prosperity?
Should the United States do more to increase its workers’ skills? Many say it should, arguing that subsidized training helps countries maintain flexible, productive workforces in the face of technological change and global competition. As Commerce Secretary William Daley has noted, “We must ensure our nation has a highly trained workforce to capture the vast potential of information technologies.” Industry trade organizations bolster this position by claiming that labor shortages in high-tech industries are critical.
The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.