How many times have you heard a friend say they can’t find a plumber or there’s a six-month wait for a construction worker? Perhaps you’ve heard someone say that fields like cybersecurity and biomedical research lend themselves to long and successful careers, but they don’t know how to pursue those jobs. Career and technical education addresses all of these issues, and so much more.
Maine’s 27 career and technical education centers serve over 8,000 high school students and many more in adult education programs. These programs train Mainers to enter high-growth industries. They are constantly responding and reacting to the needs of our local economy and closing the skills gap. They also provide an important educational opportunity for the many students who find their strengths lie outside the traditional classroom.
Career and technical education is essential to our communities, but we’re not giving it the investment it needs. Career and technical education programs are at their best when they have modern equipment and resources to train students on the most updated aspects of their fields. Yet there hasn’t been a significant investment in career and technical education since 1998.
In some places, private funding helps fill the void where state funding falls short. Kevin Stilphen, principal at Portland Arts and Technology High School, or PATHS, says that a grant from EnviroLogix has brought their health occupation courses to a new level. The generous gift from EnviroLogix allowed PATHS to build a new biomedical science lab and obtain computers with virtual-reality capabilities. These state-of-the-art tools prepare students in the program to become credentialed and enter the industry immediately. Every program in every career and technical education center in Maine wants to provide these kinds of tangible opportunities to their students. But when they don’t have the equipment currently used by the industry, they’re at a loss.
For each career and technical education center that receives upgrades, many communities benefit. PATHS is a great example, with 14 different cities and towns sending students to their programs. This means that an investment in PATHS gives 14 communities worth of Mainers better access, exposure and training to critical fields. The result is a stronger workforce in every one of those municipalities.
But private funding and grants are not reliable or recurring. The state needs to step up to the plate and invest in career and technical education across the board.
In the Legislature, there are several options on the table to increase funding for career and technical education, two sponsored by one of the co-authors of this op-ed, Assistant House Majority Leader Ryan Fecteau. L.D. 859 and L.D. 1947 put forth two different bond proposals that would allow for capital improvements and equipment upgrades at career and technical education centers across the state. Sen. Erin Herbig, D-Belfast, has sponsored another bill, which would increase career and technical education investment through a general fund appropriation. No matter what the approach, we need to get more funds to our career and technical education programs.
Throughout Maine, we need a trained workforce. It is so important that we pair workforce needs with skilled employees. One way to do that is by preparing students for the jobs that will always need to be done and that will never be automated – welding, plumbing, carpentry, the list goes on. These are a few of the many fields for which career and technical education provides training, and that support our local communities and economies.
Investing in career and technical education is just smart. We have these incredible programs at our disposal that are doing everything in their power to provide our children with a high-quality educational experience that they deserve. Simply stated, career and technical education gives Maine students the academic and technical skills they need for postsecondary and workplace success. These programs are preparing students to fill jobs that provide essential services to our community members. And these programs are supporting industries and municipalities across Maine that make our entire state stronger.
It’s about time we increased our investment in these programs. The cascading benefits for our students, economy and future are well worth the cost.
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TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
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