ETA News Release: [Oct. 2, 2006]
Contact Name: Mike Volpe or David James
Phone Number: (202) 693-3974 (202) 693-4676
U.S. Department of Labor Releases $43 Million to States for Trade Adjustment Assistance
Funds Help States Train Trade-Impacted Workers for New Careers
WASHINGTON – Secretary Secretary of Labor Elaine L. Chao today announced the release of more than $43 million to aid states in providing job training, job search assistance and relocation assistance to workers who lose their jobs for trade-related reasons.
“We want to do everything we can for these workers. This $43 million will provide workers with access to skills training, job search and relocation assistance, and direct income support as they build new careers,” said Secretary Chao.
The funds are amounts remaining from fiscal year 2006 resources maintained in a reserve account the department set up under the Trade Adjustment Assistance (TAA) program. They will be distributed immediately along with initial allotments for fiscal year 2007, which begins October 1.
Congress allocates approximately $220 million annually for TAA training. In fiscal 2004, the Labor Department’s Employment and Training Administration (ETA) began a new system for disbursing the allocations using a formula that aligns resources with state training needs.
Each year, 75 percent of available TAA funds, or $165 million, is released on Oct. 1. The remaining 25 percent is reserved for qualifying states experiencing large, unexpected layoffs during the year. States may request additional money from the reserve account after having spent at least 50 percent of initially allocated formula funds.
In addition, the Department of Labor has authorized a one-time $250,000 lump sum for each state to upgrade their information systems for the purpose of improving TAA data and performance.
For more information on Trade Adjustment Assistance, visit www.dol.gov/dol/topic/training/tradeact.htm
Note: A list, by state, of the fiscal year 2006 TAA funds being released is attached.
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