Jobs Friday: Why apprenticeships could make a comeback

The Indicator from Planet Money

NPR

Business

4.7 • 9.2K Ratings

🗓️ 7 January 2023

⏱️ 9 minutes

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Summary

Apprenticeships: not just for medieval guilds, but also useful in today's tight labor market! More employers in fields such as healthcare are turning to apprenticeship programs to train new hires for critical roles.

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Transcript

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0:00.0	NPR.
0:12.2	This is The Indicated for Planet Money.
0:13.5	I'm Adrian Ma.
0:14.6	I'm Waylen Wong and it is Jobs Friday.
0:18.0	The Bureau of Labor Statistics released their latest jobs report today and US employers
0:22.3	added 223,000 jobs in December.
0:25.8	The unemployment rate ticked down to 3.5%.
0:31.4	The economy has wrapped another tight year in the labor market.
0:35.3	We've seen people leave jobs for better pay and working conditions, which means some
0:40.1	businesses have had to try new strategies to recruit employees.
0:44.2	One strategy they've tried is training new workers and specifically through apprenticeships.
0:49.8	These are programs where workers earn a paycheck while getting practical hands-on job training.
0:54.6	Apprenticeships have been around for centuries and in their modern form in the US, they're
0:58.7	most common in industries like construction.
1:01.7	But they are expanding in other fields that are anticipating major demand for workers in
1:06.6	the years ahead.
1:08.0	Fields like healthcare.
1:11.0	Today on the show, we get schooled in how apprenticeship programs work and we talk to
1:15.0	one company that's training new generations of essential healthcare workers.
1:22.1	You might hear apprenticeship and think of, I don't know, some colonial guy learning
1:32.6	how to be a silversmith.
1:34.3	And actually, Paul Revere was once a silversmith apprentice.
	...

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