Capacity Building is Critical
audio
Thomas M. Dowd, Deputy Assistant Secretary, Employment and Training Administration (ETA), U.S. Department of Labor highlighted the importance of creating the means for individuals to develop the core skills to access technology and find employment in the US economy's high growth industries. - Economists estimate that nearly 50% of US annual GDP growth is attributed to innovation. Yet today 50% of all new US patents are owned by foreign-owned companies and foreign born inventors! The US must promote and facilitate innovation to remain competitive. This requires access to a qualified workforce that can participate in high-growth industries, most often requiring basic computer literacy.
- Opening of the market and advent of newer technologies has caused low skilled jobs to be outsourced or automated. As a result, most entry-level jobs require basic digital skills like filling an application online.
- Most job seekers lack the basic computer proficiency required to participate in this new economy. Thus there is a sense of urgency to address this lack of talent in the US.
Click on the audio link above to hear the recording of his presentation.
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