US President Barack Obama on Monday commenced an initiative aimed at training more and more people for higher-paying employment opportunities in the high-technology services in an attempt to counter wage stagnation in the American economy that is otherwise witnessing improvement in other sectors.
The recent data by the US Labor Department has shown unemployment tumbling to 5.5 percent, but still few American employees are seeing more cash in their pockets.
According to the President, his administration had enlisted 21 regions or cities and nearly 300 private-sector employers for the expansion training programs and would cut in USD 100 million in federal money for grants to boost creative approaches.
“We are going to more effectively capture what is the boundless energy and talent of Americans who have the will but sometimes need a little help clearing out the way. Help them get on a path to fill the new jobs of this century. And that’s what middle-class economics looks like,” Obama told an August gathering of mayors and other municipal leaders at a conference of the National League of Cities in Washington.
The White House said that nearly 500,000 of approximately five million unfilled employments in the US are associated with high-technology areas such as software development, computer security and network administration.
The average job which requires technology skills pays roughly 50 percent more than the average job in private sector, according to the White House.
Obama’s initiative, which is being known as TechHire, will mainly focus on regions of the nation having over 120,000 open technology employment opportunities.
The participating employers and municipalities in the initiative will be exploring new methods to recruit and train new workers.
The cities that are participating in the government’s initiative include: Los Angeles; New York; Philadelphia; San Francisco; Louisville, Ky.; San Antonio; St. Louis; Portland, Ore.; and Chattanooga, Tenn.