Morning Business Report: Lowe’s launches initiative to train 1 million skilled tradespeople
Lowe’s is teaming up with dozens of companies in an effort to address the nation's shortage of skilled workers by helping train and develop 1 million tradespeople over the next decade.
(LILAMAX)- Lowe’s is teaming up with dozens of companies in an effort to address the nation’s shortage of skilled workers by helping train and develop 1 million tradespeople over the next decade.
The Lowe’s Foundation is partnering with companies including Nvidia, General Motors, AT&T and Bank of America through the Building Futures Skilled Trades Coalition. The initiative will specifically focus on training electricians, plumbers and carpenters. The skilled trades continue to face a worker shortage as experienced employees retire. For every five people who retire from skilled trades, only two new workers are entering those professions.
Meanwhile, the U.S. Postal Service is seeking temporary price increases for the upcoming holiday season. USPS has requested higher rates for Priority Mail Express, Priority Mail, USPS Ground Advantage and Parcel Select. If approved, the increases would take effect Oct. 4.
On Wall Street, stocks closed near their lows of the day despite oil prices rallying amid renewed fighting in the Middle East.
The labor market continues to experience a “low hire, low fire” environment, with layoffs falling to their lowest level since January. Average investors could also soon gain more opportunities to invest in private companies. A proposal would allow smaller investors to gain exposure to private companies through registered funds. Private investments can potentially offer significant returns but have traditionally been more accessible to wealthy and institutional investors.
AMC Theatres is launching a new program aimed at bringing more independent movies to the big screen. AMC is partnering with Leawood Films, which the theater chain says will help bring fully developed independent films to its theaters that otherwise may not have received a theatrical release.
