Good politics makes bad economics is an often used axiom. It’s especially fitting when it comes to the ruse politicians use when they hand out taxpayer funds for job training.
It does sound good. People do lose jobs because of new technology for which they are not able to qualify.
The unfortunate unemployed are told they can be retrained, as they should be, But in truth, the federally-sponsored programs usually are a bust. Private efforts have been more successful.
A study as far back as 1969 showed that teens actually did worse in a federal jobs program once they started. Another study showed how tens of billions were spent on federal job training from 1961 through 1980 with no real success. Programs since then, with 1982 legislation, have fared no better.
But the charade still goes on. Promises of job training programs that sound good—the government is doing something. But nothing g is accomplished for getting skilled jobs. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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