Trade and globalization have generated, and continue to generate, tremendous aggregate gains for the U.S. economy and American workers – but also can entail real and painful local losses as people lose their jobs, some firms downsize, and certain industries shrink.

As a follow-up to its groundbreaking report, Succeeding in the Global Economy: A Policy Agenda for the American Worker, released in June of 2007, the Financial Services Forum has produced a white paper that offers innovative policy proposals to help American workers prepare for, adjust to, and benefit from the 21st century global economy. Current worker transition programs were created in the early 1930's. While well-intentioned, the programs are outdated and inadequate to meaningfully help workers cope with the challenges of today’s economy. We aim to address many of these new challenges with proposals in our Adjustment Assistance Program.