It seems counterintuitive, but the auto industry could face a labor shortage within the next few years, says the head of the Center for Automotive Research.
When Todd Wyman lost his job making parts for trucks and SUVs in June 2008, he started on a path trod by millions of unemployed workers in this recession: He retrained to do something else.
Four reports Thursday show the U.S. economy is still recovering, albeit it slowly. The reports:
• The Institute for Supply Management said its Non-Manufacturing Index registered 55.4% in May, the same as April and March. A reading above 50 indicates growth in the services sector.
The report is considered a key gauge for the health of the jobs market because the service sector accounts for 80% of workers, outside of farm workers.
• Orders to U.S. factories increased in April as a surge in demand for commercial aircraft offset weakness in other areas.
LITTLE ROCK — Wal-Mart(WMT) announced a program Thursday in which its workers can receive college credit from the online American Public University and receive a tuition discount from the school.
The company also said it will commit $50 million over three years to help workers pay for books and tuition above the reduced tuition rate. After the reduction, tuition will cost $212.50 per undergraduate credit hour and $255 for graduate credits.