Wicker: Another Discouraging Jobs Report Cites Slow Growth

Survey Reaffirms Value of Training for New Skills

October 17, 2016

A report issued each month by the U.S. Bureau of Labor Statistics is one of the most common ways to learn about the health of our nation’s workforce. This jobs report is not a full checkup but provides vital statistics, such as how many working-age adults are participating in the U.S. labor force and how many people have been unemployed over a long period of time.

Statistics in the jobs report released on Oct. 7 were not particularly encouraging. The percentage of working-age adults in the labor force, also known as the labor force participation rate, remains near its lowest point in nearly four decades. That means many people have given up looking for a job entirely or have chosen not to enter the workforce in the first place. Nearly a quarter of the people who are unemployed have been looking for a job for more than six months.

An Unacceptable New Normal

Trends in the monthly jobs reports and quarterly estimates of economic growth point to a much more troubling reality for American workers. Economic growth has hovered around 1 percent since last year, falling short of the gross domestic product that a healthy economy should generate. GDP growth has yet to exceed 2.5 percent under President Obama.

These reports confirm the slow economy that is felt by Americans every day. Median incomes increased last year for the first time in nearly a decade, but they still remain below 2007 levels. Americans do not need the Bureau of Labor Statistics to tell them that getting a job and achieving financial security is difficult. This has become an unacceptable new normal.

Advanced Training Is Key

It comes with little surprise that Americans continue to name the economy as the country’s most important problem, according to Gallup. This was also the finding of a Pew Research Center survey in September asking voters to choose which issue mattered most in their choice for president. Earlier this month, Pew offered even more insight into how Americans view the labor force, releasing a report on “The State of American Jobs.” One of the major takeaways was support for training and professional development. As the report put it, “The vast majority of U.S. workers say that new skills and training may hold the key to their future job success.”

In Mississippi, education and training are crucial to keeping jobs in our state and attracting new business ventures. The fastest growth among manufacturing jobs will be those requiring advanced skills. Maintaining the strength of our manufacturing base – now responsible for more than 12 percent of Mississippi’s total employment – requires preparing a workforce to meet future needs.

Career and technical education programs are helping to build and sustain this workforce, equipping millions of Americans with employable skills. These programs help create a diverse curriculum in high schools, where students can start thinking about their careers through real-world learning experiences. The U.S. House has already passed legislation to reauthorize funding for career and technical education programs, giving states more flexibility in how federal resources are used. I hope the Senate will consider our version of the bill before the end of the year. As the Pew report suggests, Americans are ready to learn skills that will help them succeed. This success is the remedy that our economy needs.