JPMorgan warns of ‘national security’ threat due to US worker skills gap

KANIKA SINGH RATHORE,

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JPMorganChase released a report claiming a shortage of technical skills Among Americans it “should be viewed as”national security Issue.”

The report argues that investment in areas such as Aye Or energy development will not keep the US competitive with other countries unless Americans have the skills to work in those sectors.

“Today’s skills gap is a serious national security issue, and the public and private sectors need to come together to advance solutions,” said Tim Berry, global head of corporate responsibility and president of the Mid-Atlantic region. JP Morgansaid a statement accompanying the report.

This view is clearly shared by the federal government, and it is not divided along party lines. Former President Joe Biden’s government emphasized industrial expansion under the CHIPS Act and the Inflation Reduction Act. axios,

The Trump administration has taken similar steps by encouraging manufacturing companies to invest in domestic infrastructure.

Students participate in the Building Your Own Computer program offered by CFAL, a Connecticut-based group for digital inclusion, to practice their skills. States are looking to enhance the tech skills of their residents as Generative Artificial Intelligence plays a larger role in the workplace. JPMorgan Chase recently released a report warning that the lack of tech skills among American workers poses a national security threat to the country.

Students participate in the Building Your Own Computer program offered by CFAL, a Connecticut-based group for digital inclusion, to practice their skills. States are looking to enhance the tech skills of their residents as Generative Artificial Intelligence plays a larger role in the workplace. JPMorgan Chase recently released a report warning that the lack of tech skills among American workers poses a national security threat to the country. ,(Rose Servatnik/CFAL for Digital Inclusion via AP),

But none of those initiatives actually target the talent that the JPMorgan Chase report says is needed to keep America competitive.

For example, citing a shortage of 3.8 million workers, multi-billion dollar semiconductor fabrication plants in the US are being built faster than companies can handle them. The report found that nearly half of those jobs will remain unfilled by 2033.

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There is also reportedly a shortage of electricians and line workers to continue national power infrastructure modernization efforts. That industry reports a shortage of 200,000 workers.

The defense side is also feeling the pinch. According to the data, approximately 46 percent of defense industrial company leaders reported difficulty recruiting, training and retaining manufacturing workers.

JPMorgan Chase CEO Jamie Dimon has warned that worldwide

JPMorgan Chase CEO Jamie Dimon has warned that there is a “silent labor crisis” around the world, leading to a shortage of workers with the job skills needed to meet current and future industry demands. ,Copyright 2022 The Associated Press. All rights reserved.,

CEO of JPMorganChase jamie dimon This particular bell has been ringing for months, with June arguing that there is a global “silent labor crisis” due to a shortage of skilled workers.

He complained that universities are “graduating people who are not ready for jobs” during a CEO Workforce Forum in June, and called on tech employers to work directly with educational institutions to develop better talent development programs.

Dimon said that in his opinion, there are reasonable fears of massive job displacement due to AI, but he cautioned companies against focusing solely on technical training. He said human skills – such as adaptability, ethics and problem-solving – will be vital to future industries.

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