Closing the Skills Gap
Helping people gain the skills they need to compete for jobs can transform lives — and strengthen economies.
That’s why we’re developing talent with the right skills for the jobs of tomorrow and today.
The numbers seem to contradict each other: unemployment is high across the globe, while recent data reveals that employers are having trouble finding workers who are trained for the jobs that are available, particularly in skilled labor and professional positions. And more than 50% of global CEOs are concerned that a key skills gap could limit their growth prospects.footnote 1 What can we do to ensure that people are trained and competitive for the skilled jobs of the 21st century?
Around the world, employers, educators, policymakers, training organizations, and others have recognized the critical importance of tackling the skills gap. Helping people develop the skills they need to compete for today's jobs can transform lives and strengthen economies. Through New Skills at Work, JPMorgan Chase will use its resources, expertise, and global reach to help inform and accelerate efforts to support demand-driven skills training.
What we are doingJPMorgan Chase is investing $250 million
over five years to:
through cross-sector gatherings to encourage collaboration, share findings and formulate strategies
and make targeted investments to strengthen and scale the most effective workforce training programs
and Sponsor a data-driven analysis of skills demand to supply gaps in local markets.
Promoting economic vitality is one of our top priorities.Learn More about New Skills at Work: First Year in Review
We're helping combat the youth employment crisis by investing in summer employment initiatives across 14 U.S. cities.Learn More about Building Skills Through Summer Jobs
Closing the Skills Gap
A Conversation with Melody Barnes, Aspen Forum for Community Solutions.Watch Video about Closing the skills gap
Filling Jobs, Creating Prosperity
This animated video shows how New Skills at Work will help fill millions of jobs in key cities in the U.S. and around the world.Watch Video about filling jobs and creating prosperity
20K Underserved Youth to Benefit
We are investing $5 million over the next two years to provide summer jobs and skills training.Learn More about First Job Stories
New Skills at Work: Europe Launch
Global initiative aims to address skills and employment issues, and improve local economic opportunities in Europe.Watch Video about New skills at work Europe launch
Founder and CEO of YouthBuild USA, talks about the challenges that the New Skills at Work initiative is trying to solve.Watch Video of Dorothy Stoneman discussing the challenges that the New Skills at Work initiative is trying to solve
President of the National Academy Foundation, talks about the importance of real-time data in helping to connect students with potential jobs.Watch Video of JD Hoye discussing the importance of real-time data in helping to connect students with potential jobs.
President & CEO of Jobs For The Future, talks about the differentiating factors that will enable the New Skills At Work initiative achieve success.Watch Video of Marlene Seltzer discussing differentiating factors that will enable success for ew Skills At Work initiative
Executive Director for the National Fund for Workforce Solutions, talks about what success will look like for the New Skills at Work initiative.Watch Video of Fred Dedrick talks about what success will look like for the New Skills at Work initiative
“The most important thing we can do as a company is invest in the economic prosperity of our communities. If we can help close the skills gap, we can reduce unemployment and be a force for broadly shared economic opportunity.”
"Through our New Skills at Work initiative, JPMorgan Chase recognizes the importance of helping more Americans develop in-demand job skills to compete at home and abroad. By streamlining programs, reporting and administration, the Workforce Innovation and Opportunity Act will complement private commitments to give workers and employers the resources and skills necessary for success in today's economy."
"The private sector is critical to job training. We need business owners working with educators and non-profits to match growth sector needs with employee skills."
JPMorgan Chase has identified an initial set of best-in-class partner organizations for New Skills at Work, and we will add new local and regional partners in 2014.
The JPMorgan Chase Global Workforce Advisory Council will advise on the development, implementation and evaluation of New Skills at Work. Chaired by Jamie Dimon, JPMorgan Chase Chairman and CEO, and co-chaired by Melody Barnes, former Director of the White House Domestic Policy Council, the Council will bring together a group of private sector, non-profit, education and workforce development thought leaders to ensure the effectiveness of the effort.
- PwC and The Atlantic Council (2013). Dealing with Disruption, Adapting to Survive and Thrive: 16th Annual Global CEO Survey.