Labor Department Launches Career Advancement Accounts

U.S. Secretary of Labor Elaine L. Chao said eight states have volunteered to test $3,000 personal accounts that workers can use to get needed education and training.

U.S. Secretary of Labor Elaine L. Chao said eight states have volunteered to test $3,000 personal accounts that workers can use to get needed education and training. 

The Career Advancement Accounts (CAAs) can be used by displaced or current workers to pay for expenses directly related to improving their job skills, such as tuition, books and fees.

Under the CAA demonstration project Indiana, Pennsylvania and Wyoming will conduct pilot tests for statewide use, while Georgia, Michigan, Minnesota, Missouri and Ohio will use CAAs to help workers impacted by layoffs in the automobile industry.

The Career Advancement Accounts part of the American Competitiveness Initiative.

Under this demonstration, individual workers will be eligible for accounts worth $3,000, renewable for one year, for a total of $6,000.

For more information on Career Advancement Accounts, click here.

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