New Skills At Work – Leading With A Purpose – Chase


Over the past five years the American economy
has added about 5million net new jobs, yet over eleven million Americans remain unemployed. The same
is true in countries around the world. Unfilled jobs but stubbornly high unemployment. One big
reason for this is something called the skills gap. What’s the skills gap? Here’s an example. Meet Sally.
Sally owns a company that manufactures widgets. New technologies make Sally more competitive than
ever. But running those advanced machines, it requires specific skills. Sally needs to hire, but
has trouble finding qualified applicants. Now, meet Jack. Jack is a High School graduate looking for work in Localville.
He sees Sally’s help wanted ad but he doesn’t even apply for the position. He knows he’s not
qualified. Okay now the distance between Sally and Jack? That’s the skills gap and right now as many
as four million jobs in America are unfilled because of it. To help close the skills gap and create more
broadly shared prosperity in America and around the world we need a real time understanding of the skills
needed for open jobs at the local level and training programs that prepare eager workers for those
opportunities. That’s why JPMorgan Chase has launched New Skills At Work, a landmark five year,
two-hundred-and-fifty million dollar global initiative to bridge the skill gap. New Skills At Work starts with
local research to understand the skills gap in key cities in the U.S. and around the world. Then we incorporate
industry intelligence from local employers to further understand what skills are needed in high
growth sectors. Out of this data gap reports are produced to inform our efforts. New Skills At Work then
teams up with leading non-profit organizations, providing them with tens of millions of dollars each
year to support their proven job skills training programs. Over time participating cities will share their
experiences so they can learn from each other about the best ways to close the skills gap. By focusing
on good data, a clear picture of the credentials employers are looking for and accountability for results,
New Skills At Work will help bridge the gap between Sally and Jack and serve as a model for workers, businesses
and economies around the world. To find out more, visit us at NewSkillsAtWork.com

3 thoughts on “New Skills At Work – Leading With A Purpose – Chase

  1. Great tool! We are doing this on a local basis creating jobs at the grassroots. Lets do this thing people and revitalize a sustainable economy!

  2. Jack is better off than Jill who went to college and has about 35k in student loan debt but can't find a job as a Marine Biologist (her dream job) because there is not a need for new Marine Biologists. So Jill lives and home stays on her parents insurance and works as a waitress to try and pay her student loans off. Jill is also in the "Skills Gap" because she is unemployable outside of Marine Biology and needs to find skills that will actually pay the bills and make her employable for positions that are actually available. We need to share reality of unemployment and continuing education instead of misguiding kids that college education for college education sake will provide them a job. Colleges and Schools are lying to kids and hanging a millstone of debt around their necks.

  3. Grads of Life is a national PSA campaign to raise employers' awareness of an untapped talent pool of 6 million young Americans–opportunity youth–who bring motivation, resilience, loyalty and, through employment pathways, the work-ready skills employers need now. Employers can learn more about opportunity youth and success stories from companies who have built talent pipelines for them at GradsofLife.org.

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