Dive Brief:
- President Trump was recently challenged by Marc Benioff, CEO of Salesforce, to create 5 million apprenticeships in the next 5 years, to which he responded, “Let’s go for that 5 million.” Later, Trump met with German Chancellor Angela Merkel, and in conversation was impressed with the high success rate of Germany’s apprenticeships, Inc. reports.
- The United States currently falls behind other countries in terms of college graduation rates. Apprenticeships could provide the means for more young people to earn gainful employment in a variety of careers.
- While no bill has been submitted to Congress as of this briefing, apprenticeships have so far been viewed positively by the current administration.
Dive Insight:
Interest in apprenticeships has been building in the U.S. for some time. Not only are they cost-effective, but they help young people get recruited and trained quickly on new jobs fast. Apprenticeships provide a solid ROI for white collar jobs as well as blue collar jobs.
Currently, the laws around apprenticeships and internships act as a potential barrier. DOL secretary nominee Alexander Acosta expressed support for the DOL creating programs to encourage apprenticeships, noting that ROI generally is strong on such programs.
