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10 Amazing Statistics That Show the Value of Registered Apprenticeship Programs

10 Amazing Statistics That Show the Value of Registered Apprenticeship Programs

Happy National Apprenticeship Week! This important event serves as a yearly reminder of the vital role apprenticeships play in strengthening our workforce and propelling our economy. It's an opportunity to spotlight the victories of apprentices, the rewards for employers, and the overall positive impact these schemes have on our society. Apprenticeships play a crucial role in workforce development, offering benefits for apprentices, employers, and the economy. Here are ten apprenticeship statistics that highlight the importance and impact of Registered Apprenticeship Programs in the United States:

  1. Employers experience positive post-program benefits between $25,000 and $30,000 from each program. 
  2. Apprentices who complete their program earn an average annual starting salary of over $70,000.
  3. The typical employer experiences a 44.3% ROI on Registered Apprenticeship Programs.
  4. Registered Apprenticeship Programs have an average of 92% employment retention rate after apprentices complete the program.
  5. In fiscal year 2021, 96,000 individuals completed their apprenticeships in the United States.
  6. RAPs span 150,000 employers in more than 1,000 occupations.
  7. Since fiscal year 2014, there has been a growth of 118% in the number of apprentices completing their training annually, from 44,417 to 96,915 by the end of FY 2021.
  8. The Biden-Harris administration's increased emphasis on Registered Apprenticeships has facilitated the creation of over 4,000 new programs, attracted 6,700 additional participating employers, and generated employment opportunities from more than 1 million RAPs.
  9. A well-developed apprenticeship system can boost earnings and minimize occupational segregation within the labor market.
  10. Employers who hire apprentices frequently see improved productivity, profitability, and bottom line.

These statistics underscore the value of apprenticeship programs, not just for the apprentices themselves but also for businesses and the broader economy. By investing in apprenticeship programs, employers can develop a highly skilled workforce and improve their bottom line. At the same time, apprentices gain valuable job experience and training that can lead to higher-paying careers. This symbiotic relationship between businesses and apprentices is a key factor in the success of apprenticeships.

National Apprenticeship Week is an annual celebration to bring attention to these valuable programs and their incredible benefits. Apprenticeships are an essential component of our employment landscape, fostering the development of highly skilled workers and contributing to the betterment of businesses and the larger economy. Whether you're an employer, a potential apprentice, or a workforce development stakeholder, this week is the perfect opportunity to explore the advantages of apprenticeships.

Want more apprenticeship resources? Read about the history of the National Apprenticeship Act, explore simplified compliance guidelines for Registered Apprenticeship Programs, or check out these best practices for a successful apprenticeship program.

 

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