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New LEAD Paper: Integrating Financial Capability and Asset Building Strategies into the Public Workforce Investment System

September 30, 2015

The new Workforce Innovation and Opportunity Act (WIOA) offers State Workforce Investment Boards (WIBs) and local American Job Centers (AJCs) the opportunity to play a critical role in ensuring that youth and adults, with and without disabilities, have the chance to develop critical financial literacy and financial capability skills to enhance their ability to attain and maintain employment, leading to economic stability.

A new LEAD Center paper, Integrating Financial Capability and Asset Building Strategies into the Public Workforce Investment System, discusses why and how WIBs and AJCs should capitalize on this opportunity. It describes replicable models that local workforce systems have established to provide financial capability services including: integrating financial questionnaires into their intake process to identify the services needed; referring customers to existing community services; facilitating financial education, financial coaching, credit and debt management; work incentive counseling; and providing support for free tax preparation so community members can take full advantage of the Earned Income Tax Credit (EITC) and other favorable tax provisions without spending their resources on professional tax preparation services.