American workers are in dire need of skills training, with the technological revolution and globalisation leaving many behind. The US has a significantly lower rate of public spending on labour market programmes, including job training, compared to other developed countries. This has resulted in a skills gap, with many workers lacking the necessary abilities to compete in the modern job market.
The federal government spends only 0.1% of GDP on active labour market policies, significantly less than other Organisation for Economic Co-operation and Development (OECD) countries. This lack of investment has seen a decline in manufacturing jobs and stagnation in wages, with many workers unable to transition into new sectors.
To combat this, the US needs to significantly increase its spending on skills training. This could include partnerships with companies to provide on-the-job training, or government-funded education and retraining programmes. By investing in workers, the US could close the skills gap and increase productivity, leading to economic growth.
However, any training should be targeted and effective. Programmes need to focus on in-demand skills and industries, such as technology and healthcare, to ensure workers are equipped for the jobs of the future. Additionally, the government should monitor and evaluate these programmes to ensure they are delivering the desired results.
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