By Keith Ward
NEFBA’s Apprenticeship Program adds an estimated $4.5 million to the local economy annually. That estimate is conservative said NEFBA’s Vice President of Training, Keith Ward.
“Apprenticeship positions are not only training and education opportunities – they are jobs,” Ward said. “And jobs boost the economy. Thanks to our sponsoring employers, apprentices are working while they are learning, so they are buying homes, paying rent, buying groceries, gasoline and paying taxes. Our program injects at least $4.5 million into the local economy each year.”
Apprenticeship programs are not new, but their benefits are especially relevant today. According to the Center for American Progress, programs that combine on-the-job training, classroom instruction and paid work positions have been shown to boost workers’ earnings and raise sponsoring companies’ productivity levels.
“Sponsoring employers are investing in the future of the individual apprentices, their own company, and the industry,” Ward said. “They are training highly skilled crafts professionals, which gives them a competitive edge in today’s world. It’s a documented fact that well-trained employees have higher morale and higher productivity rates. Everyone wins.”
The report suggests apprenticeship programs strengthen the economy by meeting the demand for skilled labor and offering workers higher wages and better employment opportunities.
Ward said NEFBA’s application to the National Center for Construction Education and Research for accreditation will elevate the program to a higher level of acceptance and greatly benefit graduates and businesses alike.
“NCCER training establishes a workforce with documented, portable credentials,” Ward said. “The same standards will be in effect across the nation, across state lines. It goes a long way in attracting and retaining a high-caliber workforce.”
1. Apprenticeships are jobs. The unemployment rate for Americans younger than 25 is 15 percent, almost double the national rate for all other ages.
2. Apprentices earn higher wages. U.S. Department of Labor reports graduate apprentices earn an average starting salary of $50,000. Other research shows they earn as much as $301,533 more in their lifetime.
3. Apprentice education does not require debt. College costs have increased 250 percent in the last three decades; average student loan balance is $25,000.
4. Apprenticeships are viable education option. Fewer than half of American high school graduates complete an undergraduate degree. Apprenticeships offer skills that allow them to earn higher wages.
5. Apprenticeships grow the economy by making businesses more competitive. Sponsoring employers gain skilled workers, reduce employee turnover and improve productivity. More employers view apprentice graduates on the same level as college graduates.