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1. A US Workforce Training Plan for the Postpandemic Economy

Author:
Committee for Economic Development of the Conference Board
Publication Date:
04-2021
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
Though the US economy is expected to recover to its prepandemic level of production (gross domestic product or GDP) by the second quarter of 2021, the postpandemic economy will be different in many important ways. The pandemic’s acceleration of trends toward remote work, digital transformation, and automation could permanently reduce demand for low-skill jobs. To build a large and fully competitive US workforce and reduce inequality, aggressive reskilling will be needed. Even before the global pandemic’s onslaught, preparing the future workforce to drive rapidly advancing technology in an increasingly competitive global economy—and minimize the adverse fallout from these trends—was one of the nation’s greatest challenges. COVID-19 has made this challenge more urgent. Now, an estimated 40 percent of workers will need short-term training and reskilling by 2025.1 American leadership, prosperity, and competitiveness will hinge on maximizing the skills of our nation’s workers. The pandemic has disproportionately displaced minority workers, women, youth, and workers with lower educational attainment, many of whom are among the near-record 40-plus percent of the jobless who have been unemployed more than six months. Such displaced workers, or the “long-term unemployed,” typically find it hard to get a new job the longer they are without one. For many of them, securing a new job will require training for skills that are in demand.
Topic:
Partnerships, Economy, Business, Training, COVID-19, and Workforce
Political Geography:
North America and United States of America

2. Meeting the Upskilling Challenge: Training in the Time of COVID-19

Author:
Committee for Economic Development of the Conference Board
Publication Date:
07-2020
Content Type:
Policy Brief
Institution:
The Conference Board
Abstract:
COVID-19 has left tens of millions of Americans out of work or uncertain about the future of their current jobs, and thousands of firms urgently reassessing their own viability and path forward. Much remains unknown about the economy that will follow COVID-19. But clearly the pandemic’s whirlwind destruction has, first and foremost, hurt less-educated workers the most, with most of the job losses occurring in manual services, and has accelerated the innovative use of technology in the workplace. These two trends threaten to deepen inequality and add to the urgency of the upskilling and training challenge. Even before the pandemic led to the highest national unemployment rate since the Great Depression, American businesses and workers were anxious about how emerging technologies could potentially change which skills are in demand, and challenge workers to navigate careers requiring continual learning and adaptation.1 Both public policy and private sector leaders must prioritize support for building a US workforce with the necessary skills to outmaneuver this disruption. During pandemic-induced mass unemployment, the first task of policy is to restore as many Americans as possible to gainful employment as soon as the public health emergency allows. But after what is clearly the US’ second sizable economic downturn in barely a decade, workers cannot afford a slow recovery or one that leaves them just as vulnerable as they were before COVID-19 to technological innovation and job displacement. With innovative programs, this current crisis that has idled so many workers can be turned into an opportunity to meet this training and upskilling challenge.
Topic:
Employment, Economy, Training, COVID-19, Workforce, and Skills
Political Geography:
North America and United States of America