15 Nov 2017 - A study done by the University of Southern California and New Zealand’s Victoria University shows that additional trade schools could be a better way to close the income gap than universities. The research found that more investment is needed to go to vocational training because "there are too many four-year colleges serving too many students, and too few institutions with greater focus on vocational education and training," according to Joshua Aizenman, economics chair at University of Southern California.
Data shows that the amount of available vocational training relative to the size of a country's manufacturing sector may reduce income inequality and improve the fortunes of workers earning below the top 10 percent of household incomes, according to the report.
"Pushing more students to B.A. granting colleges may no longer be the most efficient way to deal with the challenges caused by the decline in manufacturing employment," said Aizenman.
Many believe fewer works would mean decreased output, but real gross domestic product manufacturing has risen over the past two decades, according to the report. This leads to the popular conclusion that machines have replaced labor in the workplace.
| A news4sa.com release || November 15, 2017 |||