TITLE

THE ECONOMICS OF YOUTH TRAINING IN THE UNITED STATES

AUTHOR(S)
Lynch, Lisa M.
PUB. DATE
September 1993
SOURCE
Economic Journal;Sep93, Vol. 103 Issue 420, p1292
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article assesses youth training programs and policy implications of different training arrangements in the U.S. Investment in human capital is a critical component in the determinants of wages and wage growth of workers, firm productivity, and overall economic growth and competitiveness. This paper examines the current structure of post-school training of young workers in the U.S., summarizes new empirical evidence on the rates of return to various types of private sector training investments and describes some of the options being proposed in the U.S. to reform the way in which post-school training takes place, especially for young workers. In the U.S., the only source of post-school training that provides a broadly recognized skill is an apprenticeship. A variety of proposals to encourage increased investment in training are being debated in the U.S. States such as California and New Jersey have implemented plans where a small proportion of contributions to the state unemployment insurance fund is set aside in a training fund. Employers can apply to this fund for training assistance for workers that might lose their jobs if they did not receive additional training. The adoption of assessment and certification of skills in the workplace will be critical to establish appropriate incentives to invest. The challenge in the U.S. is to develop a hybrid system that builds on its strengths and meets the training needs of diverse groups of workers and firms.
ACCESSION #
9401270893

 

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