The Biden Administration, the U.S. Navy, and the State of Michigan have announced the Michigan Maritime Manufacturing initiative, or M3, that will invest in workforce training in Michigan to boost American submarine production.
M3 will build skilled workforce pipelines and programs to help meet U.S. demand for more than a hundred thousand new workers in the submarine and maritime industries over the next decade. This initiative will connect American workers with high-paying jobs earlier in their careers, and implement training programs that provide speed and scalability required to meet industry's manufacturing and engineering gaps, according to the White House.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.