Apprenticeships and Unemployment
The boon for the American economy comes from three directions in the short view, and infinite possibilities in the long view. First, there would be more Americans working. If more are working, then in theory, fewer would require government assistance. That would both expand the tax base because more people would be contributing to it, and reduce the amount of tax dollars obligated to subsidies, benefits, and entitlements because fewer people would be taking from it.
This work would not be for nothing, goods and services would be produced and the second boon would take effect, the expansion of GDP. This expansion would put more money into the economy not by quantitative easing, but by actual earnings which would also necessarily evolve into more expendable income available to workers. And this would drive demand for even more goods and services.
The third boon would be a more sustainable workforce. Many occupations such as machinists, repairmen, technicians, and trades are suffering from labor shortages while students are graduating from universities with degrees they cannot directly use for their employment goals. 1361 U.S. employers surveyed in January by Manpower Group say that they can’t find workers to fill positions. (Woellert, 2012)
In his article, Lerman points out other advantages that may not be as tangible as these. He asserts that widened opportunities, rewarding careers, increased economic mobility, and increased engagement of young people are all beneficial , and that expanding apprenticeship programs will accomplish these goals as well as help expand the middle class. (Lerman)
But my thoughts diverge from Lerman’s intentions behind the views he expressed in the article. Lerman primarily discussed the benefits to our education system, our economy, and our jobs market. But I think there is a more elemental component to all of this, the individual. In the end, all economics, all money,...
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