Publications

Michelle Hackman of the Wall Street Journal writes that vocational training programs are making a comeback in American high schools as employers struggle to hire enough workers in the face of an increasingly tight labor market. Firms have begun partnering with local high schools to establish training programs in order to fill job openings in key occupations such as welders, pharmacy technicians, and high-tech manufacturing. WSJ

The Wall Street Journal reports that the recent, ongoing collapse of the Turkish lira has begun to drag down other emerging market currencies. Analysts say that rising U.S. interest rates have already made investors nervous about emerging markets such as South Africa and Indonesia, which have substantial levels of foreign-currency-denominated debt . WSJ

Jennifer Smith of the Wall Street Journal reports that trucking capacity is critically low in the U.S. and has driven hauling rates up 29% from last year. The trucking market is now in its longest period of sustained price increases since the industry was deregulated in 1980, causing many businesses to lock in long-term contracts at exceptionally high rates to avoid further price increases. WSJ

The Wall Street Journal reports that the U.S. will move ahead with new tariffs on $16 billion of imports from China. The tariffs, which will take effect on August 23^rd, are in response to what U.S. officials say is China’s unwillingness to curb unfair trade practices and the targeting of U.S. firms. WSJ

The Financial Times reports that China has retaliated against the new U.S. tariffs. China plans to implement a 25% tariff on $16 billion of imports from the U.S., including crude oil, cars, and medical equipment. FT

The Wall Street Journal reports that China has threatened tariffs on $60 billion of U.S. goods if the U.S. moves ahead with further tariffs on Chinese goods. The People’s Bank of China also announced that it will increase the reserve requirement for investors betting that the yuan will fall in value in an attempt to stabilize the currency, which has fallen to its lowest level against the dollar in over a year. WSJ

The Financial Times reports that U.S. manufacturers are struggling to recruit millennials. Some manufacturers say that the inability to hire young workers is their top growth limiter and are expanding apprenticeship programs to help fill the 3.4 million manufacturing jobs projected to open over the next decade. FT