According to a recent survey, two thirds of employers in Massachusetts have trouble finding workers with the right skills. That’s not surprising when you consider that one in three adults in our state have only a high school diploma or less. Not to mention, nearly one third of the state’s labor force is over the age of 55 and will be retiring soon. These are among the realities that combine to create a perfect storm, threatening the stability our statewide economy.
The good news is that Massachusetts has two funding mechanisms to help address these issues: the Workforce Training Fund (WTF), a $22M fund supported by employer-backed contributions from Unemployment Insurance for incumbent worker training, and the Workforce Competitiveness Trust Fund (WCTF), a proven sector-based training model that has served hundreds of employers with qualified talent. The bad news: funding for both has decreased over the years, and only one of these has a sustained annual funding stream. Continue reading “Sustained Funding Needed For Training To Meet State’s Skilled Labor Needs”