|
 Printer-Friendly Version
ETA News Release: [09/30/2005]
Contact Name: David
James or Mike Volpe
Phone Number: 202-693-4676 or 202-693-3984
Release
Number: 05-1856-NAT
U.S. Department of Labor Releases
Trade Adjustment
Assistance Funds
Final Release of FY 2005 Funds to Assist States
Training Trade-Affected Workers for New Careers
WASHINGTON - The U.S. Department of Labor today announced the
release of nearly $59.3 million to aid states in providing job training, job
search and relocation assistance to workers who lose their jobs for
trade-related reasons. These leftover fiscal year 2005 funds come from 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 2006, which begins October 1.
"The nearly $60 million we are making available today in Trade
Adjustment Assistance Program grants will help workers impacted by trade to get
access to critical training programs so they can find new opportunities and
start new career paths," said Secretary of Labor Elaine L. Chao.
Congress allocates approximately $220 million annually for TAA
training. In 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 October 1. The
remaining 25 percent of funds is reserved for qualifying states experiencing
large, unexpected layoffs during the year. States may request additional money
from the reserve account after they have spent at least 50 percent of initial
allocated formula funds.
Because of the sustained performance of the U.S. economy and
needs-based management of funds, the department is able to distribute nearly
$59.3 million in fiscal year 2005 funds to the states, which includes funds for
job search and relocation assistance. Last year, for the first time in recent
history, $28.5 million from the new reserve account was distributed at the end
of the fiscal year.
"A strong economy combined with a new system of allocating funds is
paying off for states, ensuring that no worker is denied reemployment services
during the difficult period following a layoff," said Assistant Secretary of
Labor for Employment and Training Emily Stover DeRocco. "We have worked with
states to align the public workforce investment system with the demands of
business so that trade-impacted workers can access training for careers in
growing industries."
For more information on the Trade Adjustment Assistance program, please
visit http://www.dol.gov/dol/topic/training/tradeact.htm.
Note: A list,
by state, of the fiscal year 2005 TAA funds being released is attached.
| 
