At last, unemployment is easing. But the latest low rate—hovering below 6 percent–obscures a deeper, longer-term problem: “skills mismatches” in the labor force, which will only worsen in years to come. According to the most recent figures, 9.3 million Americans are unemployed, but 4.8 million jobs stand empty because employers can’t find people to fill them. With new technology transforming work across a range of sectors, more and more businesses are struggling to find workers with the skills to man new machines and manage new processes.
One solution has enchanted employers, educators, and policymakers on both sides of the aisle: European-style apprenticeship. The Obama administration is about to announce $100 million worth of apprenticeship grants—and wants to spend another $6 billion over the next four years. Meanwhile, lawmakers as different as Democratic Senator Cory Booker and Republican Senator Marco Rubio have expressed interest in the idea.
Americans should proceed with caution.