Key to America’s Economic Recovery

Upskilling Workforce Key to America’s Economic Recovery

Oct 08, 2010

Chris Chmura’s keynote speech at Workfoce 2010: ACT’s National Workforce Development Conference was covered in the Autumn 2010 edition of ACT’s Activity Publication:

Keynote speaker Christine Chmura presented research that shows what could happen if America upskilled its workforce. Chmura is president and chief economist for Chmura Economics & Analytics, a quantitative research, economic development, and workforce consulting firm in Richmond, Virginia.

Her firm completed an occupational analysis of 2008 United States Bureau of Labor Statistics showing that 30 percent of American workers had below-average qualifications for their particular occupation. At the time, there were 150 million people working in the United States and 45 million had below-average job skills. Increasing the skills of even 10 percent (4.5 million) of these workers could result in a nearly $4.7 billion increase in total wages, based on Chmura’s analysis. It could also generate a nearly $15 billion increase in retail spending and an almost $16 billion boost in federal taxes.

Read the full article.


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