Chair of the Federal Reserve board Janet Yellen stated in a speech Tuesday that American workers could benefit from more on-the-job training, noting the success Apprenticeship Carolina has had in workforce development.
“The program has led to sizable job gains at a modest cost to the state,” Yellen said, according to a transcript of her speech to the National Community Reinvestment Coalition, posted by the Fed.
The decade-old program has seen explosive growth in making apprenticeships more commonplace in South Carolina. Approximately 850 SC employers now offer these programs and nearly 18,000 workers have completed them.
The state’s heavy concentration of foreign investment in manufacturing and annual $1,000-per-apprentice tax credit for employers have helped boost the program statewide.
Apprenticeship Carolina is connected to South Carolina’s technical college system and mixes on-the-job training with community college classes, while also pushing apprenticeship development designed for high school students. Yellen emphasized several aspects of successful programs, particularly reaching people when they’re young, emphasizing technical education, connecting with employers and promoting entrepreneurship.
This post contains excerpts from an article published by the Post and Courier. Read the full article here.