Labor Secretary says economy not slowing despite growing layoff numbers
ST. LOUIS (KMOX) - The latest layoff numbers are raising fears the economy may be slowing, but the U.S. Labor Secretary says that's not the case.
During a visit to St. Louis, KMOX asked Alexander Acosta about a new report that shows layoffs in the first half of the year, hitting their highest level in a decade.
"Every month the naysayers say the economy is slowing down," Acosta says, "and every month the economy is doing better."
The placement firm Challenger, Gray and Christmas reports layoffs are up 35 percent so far this year over last. Despite that, Acosta remains bullish. "Businesses around the country are saying 'we're hiring'," Acosta says. "We have more open jobs today than we have people looking for jobs and that's great."
Acosta is in St. Louis talking worker training. He stood by as officials from Nestle Purina and Edward Jones signed the Trump Administration's Pledge to America's Workers. Under the pledge, the companies will each provide 5,000 employees with increased apprenticeships, learning programs, continuing education and re-skilling. "That's 5,000 individuals who are going to get better wages, better job opportunities and, not just jobs, but career paths. Because folks don't just want a job, they want a career path where they can learn and grow."
Acosta also met with local community college officials, to award a $12 million grant to the Missouri Community College Consortium. The funds will provide 5,000 apprenticeships in advanced manufacturing at companies like Boeing and Ford.
They're aimed at those who may not want to go the college route. "Some may want to engage with college," he says, "but others may want to say, 'we just want a good family sustaining job.' Others may say, 'we want a job now and college later'. So, we're focusing on providing skilling opportunities to individuals while they're working. Working and earning a paycheck and learning at the same time."
