As our economy is looking much different due to the effects of COVID and new digital skills are more in demand, Microsoft announced a global skills initiative on June 30. Citing the fact that, global unemployment in 2020 may reach a quarter of a billion people, the company wants to assist with providing skills that people will need to find new jobs.
The goal of the program as presented by Brad Smith, president of Microsoft, is to “to provide easier access to digital skills for people hardest hit by job losses, including those with lower incomes, women, and underrepresented minorities.”
In a detailed blog post, he explained the program that is based on identifying what the new jobs will be and what skills are required. The company will provide free access to content as well as offering low-cost certifications.
Microsoft will provide $20 million to support these efforts.
The company will offer grants and technical support to global non-profit organizations. They are targeting groups who are particularly vulnerable during this pandemic. “This includes people with disabilities, people from low-income communities, and people from diverse backgrounds that are underrepresented in tech, including women and underrepresented minorities,” Smith writes.
Some specific resources the company will provide include:
- Free access to LinkedIn Learning paths until March 2021. Collaborative courses are taught and cover entry-level digital literacy to advanced product-based skills.
- Free access to Microsoft Learn which is for jobs that are more technical.
- Access to GitHub Learning Lab, which is a bot-based learning tool that uses repositories to teach technology, coding.
For more detailed information on certifications see the entire blog post.
In a summary of all loans approved by the program through June 30, the Small Business Administration revealed that the Payroll Protection Program had spent $521 billion on almost 5 million loans provided by 5,461 lenders. More than 229,000 companies in the manufacturing sector received loans through the program for a total of $54 billion, or 10.36% of the total amount spent to date.
The information was published July 6 by the Treasury Department and broke down dollars spent through the PPP by lender size, amount of money in the loan, and industry. About two-thirds of all loans spent under the program were loans of under $50,000, and 86.5% of loans issued were for less than $150,000.
A plurality of the money spent went towards loans of between $350,000 and a million dollars: loans of that amount used 21.8% of the money apportioned to the PPP. According to the summary, the average loan was for about $107,000.
In terms of jobs supported, the SBA said it had supported 51.1 million jobs and as much as 84% of all employees employed by small businesses. On a state-by-state basis, California reported the most jobs helped with 6.5 million jobs benefiting, followed by Texas (4.5 million) and Florida (3.2 million). The SBA also reported that between 72 to 96% of estimated small business payroll was covered by PPP loans.
The report additionally notes that $131 billion in funding remains for money allocated to the PPP. The first version of the PPP was started by the CARES Act, passed towards the end of March: Congress has since voted to extend the program twice, and it’s currently set to expire August 8.
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July 07, 2020 at 08:08PM
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Microsoft to Bring Digital Skills to 25 Million - IndustryWeek
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