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Time of India
11 hours ago
- Business
- Time of India
Jamie Dimon warns of a scary global labour crisis: JPMorgan CEO says 'world is short on skills, not people'
At a time when Gen Z is being warned of a so-called 'job-market bloodbath', JPMorgan Chase CEO Jamie Dimon has made one thing clear: there are still jobs—just not enough skilled people to fill them. 'There are some areas where businesses are short on skills and desperately need young people to plug that gap,' Dimon said during the Business Roundtable's CEO Workforce Forum. The real challenge, he stressed, isn't the number of graduates entering the market—but what they've actually learned. Jamie Dimon warns of a skill gap labour crisis Dimon didn't mince words. 'We are short on labour,' he said, 'but we all have needs for cyber, we all have needs for coding, we all have needs for programming, we have needs for financial management and program management, things like that.' Despite companies like Amazon cutting staff due to artificial intelligence, and warnings from tech leaders such as Anthropic CEO Dario Amodei that AI could replace half of all entry-level white-collar jobs, Dimon insists that students who gain skills in high-demand areas still have solid prospects. Live Events Education must focus on employment, not just degrees Dimon has long criticised the education system for falling short of job-market needs. 'Too much focus in education has been on graduating college… It should be on jobs,' he told WISH-TV. 'I think the schools should be measured on, did the kids get out and get a good job?' This isn't a lone voice. Over 250 CEOs—including Microsoft's Satya Nadella, Airbnb's Brian Chesky, and Salesforce's Marc Benioff—have signed an open letter to lawmakers, urging them to make computer science and AI education widely accessible in schools. Their reasoning is direct: 'A basic foundation in computer science and AI is crucial for helping every student thrive in a technology-driven world. Without it, they risk falling behind.' The widening skill gap and the urgency to close it Backing Dimon's argument is the World Economic Forum's Future of Jobs Report 2025, which found that 63% of employers identify skill gaps as a top barrier to business transformation. By 2027, nearly 60% of workers will require retraining, particularly in areas like artificial intelligence, analytics, creative thinking, and resilience. The WEF projects that by 2030, 39% of essential job skills will be outdated. More alarmingly, it estimates that 10 million jobs worldwide could remain unfilled due to a lack of qualified workers. This, Dimon argues, could slow growth not only in technology but also in healthcare, financial services, and advanced manufacturing. Bridging the gap starts in classrooms Dimon is urging employers not to sit back. 'What you're truly lacking are the necessary skills,' he said, calling on companies to partner directly with schools and universities. It's about rethinking what education should deliver—and how quickly. He added, 'We must dismantle the barriers between education and employment. It's crucial to establish a system that supports lifelong learning, adaptation, and career growth—not just initial job placement.' The idea is simple: students should graduate ready for the demands of real-world jobs—not just holding a certificate. A payoff for skills: The data speaks Dimon's push is not without evidence. A University of Maryland study found that students who take a high school computer science class earn, on average, 8% more in their first job. While AI tools like ChatGPT have made it easier to generate code or content, Dimon believes that basic tech skills still matter—and will continue to matter. 'If you look at kids,' he said, 'they gotta be educated to get jobs.' It's not just what you know, it's who you are But technical expertise isn't the only thing on Dimon's radar. Gen Z workers, he noted, must also develop professionalism, communication, and reliability. These are often the deciding factors in hiring—and keeping—a job. At JPMorgan, character still counts. 'It almost doesn't matter to tell you the truth because you're looking for smart, ethical, decent people,' Dimon told The Wall Street Journal. His view is shared across corporate America. The message is blunt: a degree alone won't cut it—but the right mix of skills and values will. For Gen Z, the job market may seem full of contradictions. Automation is replacing roles, yet employers are scrambling to hire. Dimon believes the disconnect can be resolved with action—not alarm. Students who choose to study cybersecurity, coding, project management, or financial literacy can still build lasting careers. But the time to act, he warns, is now. Because by 2030, if the skills gap remains, millions of vacancies will stay open—and young professionals may find themselves shut out, not because of who they are, but because of what they weren't taught.
Mint
a day ago
- Business
- Mint
Bottleneck is skills: JPMorgan CEO Jamie Dimon says employers need youngsters with expertise in THESE fields
JPMorgan Chase Chief Executive Officer Jamie Dimon recently said there are some areas where businesses are short on skills and need young people to plug that gap, reported Fortune. 'We are short on labour,' Dimon said, adding: 'We all have needs for cyber, we all have needs for coding, we all have needs for programming, we have needs for financial management and program management, things like that.' The 69-year-old billionaire made the comments at Business Roundtable's CEO Workforce Forum last week. Dimon further said that several schools are falling short in providing the specialised training to students to become the next generation of coders or program managers. Last year, the JPMorgan Chase CEO had told Indianapolis-based WISH-TV: 'If you look at kids, they gotta be educated to get jobs.' 'Too much focus in education has been on graduating college… It should be on jobs. I think the schools should be measured on, did the kids get out and get a good job?' As big companies such as Amazon had said they will soon lay off employees from their corporate ranks, thanks to artificial intelligence (AI), studying those subjects could give the next generation of workers an edge. Dimon, also a board member of the New York Jobs CEO Council, argued that the bottleneck is skills, not head count, and urged schools to embed industry credentials in their curriculum so graduates can 'get out and get a good job.' Meanwhile, Anthropic CEO Dario Amodei warned, according to a Fortune report, that the technology could eliminate half of all entry-level, white-collar jobs. Job-search platform Indeed's CEO Chris Hyams had recently warned that "for about two-thirds of all jobs, 50 per cent or more of those skills are things that today's generative AI can do reasonably well, or very well." Demis Hassabis, CEO of Google's DeepMind, said while AI is displacing certain jobs, it will also create new ones, reported Benzinga.
Yahoo
2 days ago
- Business
- Yahoo
Gen Z is facing a job market bloodbath—but JPMorgan CEO Jamie Dimon says employers are still chasing students who studied these fields
Despite worries about an entry-level job bloodbath, billionaire JPMorgan Chase CEO Jamie Dimon says businesses are still clamoring for young talent with skills in cybersecurity, coding, and project management. For Gen Z, the job market is full of mixed signals. One moment, they're hearing entry-level jobs are a dying breed. The next, CEOs are complaining about a talent shortage. But according to JPMorgan Chase CEO Jamie Dimon, the path to job security isn't a mystery—it just requires studying the right things. That's because there are some areas where businesses are short on skills and desperately need young people to plug that gap, Dimon revealed at Business Roundtable's CEO Workforce Forum last week. Businesses have a need for experts in areas like cyber, coding, and programming along with financial and project management, the 69-year-old billionaire said. 'We are short on labor,' he agreed, but, he added: 'We all have needs for cyber, we all have needs for coding, we all have needs for programming, we have needs for financial management and program management, things like that.' Studying those subjects could give the next generation of workers an edge, amid companies like Amazon admitting they will soon cut their corporate ranks thanks to AI and Anthropic CEO Dario Amodei warning that the technology could wipe out half of all entry-level, white collar jobs But Dimon said that many schools are falling short in providing this specialized training to become the next generation of coders or program managers. It's why he has previously stressed that schools should be measured on whether their pupils actually land work after leaving. 'If you look at kids they gotta be educated to get jobs,' Dimon told Indianapolis-based WISH-TV last year. 'Too much focus in education has been on graduating college… It should be on jobs. I think the schools should be measured on, did the kids get out and get a good job?' Fortune reached out to Dimon for comment. It may come as a surprise that Dimon is still bullish on the need for students to learn how to code. After all, ChatGPT and other generative AI technologies have made it easier than ever to build a website or develop new software with just 'vibes.' However, Dimon is not alone in his belief that having foundational tech knowledge is still a lucrative career path. In fact, over 250 chief executives—the likes of Microsoft's Satya Nadella, Airbnb's Brian Chesky, and Salesforce's Marc Benioff—came together early this year to sign a letter demanding all students have access to computer science and AI education. 'A basic foundation in computer science and AI is crucial for helping every student thrive in a technology-driven world. Without it, they risk falling behind,' wrote the letter sent to lawmakers. The push came on the heels of research from the University of Maryland that found that high school students who take a computer science class will have 8% greater earnings on average by the time they've secured their first job. Gen Z hasn't always entered the workforce on the best of terms—with some new-to-the-workforce struggling with professionalism, organization, and communication. It perhaps explains why Dimon has emphasized that new hires need more than just technical expertise in finance or coding if they want to land a job in today's market (and keep it). In fact, when hiring at his $750 billion-plus firm, Dimon insists that a college major doesn't matter as much as a job candidate's character. 'It almost doesn't matter to tell you the truth because you're looking for smart, ethical, decent people,' Dimon told the Wall Street Journal. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
4 days ago
- Business
- Time of India
Jamie Dimon to American companies: You are really short of the skills you need, time to ...
Jamie Dimon JPMorgan Chase CEO Jamie Dimon has issued a warning to American businesses: the real labor crisis isn't a worker shortage—it's a skills shortage . Speaking at the Business Routable's CEO Workforce Forum, Dimon asked the coperate leaders to not wait for the government fixes and should directly partner with the schools to close the growing talent gap. 'What you're really short of is the skills you need,' Dimon said, pointing to critical areas like cybersecurity, coding, project management, and financial literacy . He stressed that the companies must invest in education pipelines and push for curricula which blends job-ready credentials with traditional academics. Dimon who is an advocate of workforce development , feels that continous mismatch between available jobs and qualified candidates act as a threat to economic growth and innovation across multiple sectors ranging from advanced manufacturing and healthcare to technology and financial services. He also mentioned that global estimates suggest that 10 millions of jobs will go unfilled by 2030 due to lack of skilled talent. "We need to break down the barriers between education and employment ," Dimon stated at a recent economic summit. "It's time to build a system that helps people learn, adapt, and thrive throughout their careers—not just at the start." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 임플란트, 지금 시작하세요 [자세히 보기] 임플란트 더 알아보기 Undo He asked for high-schools and colleges to offer workplace focused courses as part of their curriculum. The billionaire banker also stressed that businesses can't rely solely on four-year degrees. 'They all want jobs,' he said of young graduates. 'But many end up in retail or inventory roles, when there are jobs in coding, cyber, and financial management.' Dimon is also calling for unprecedented collaboration between the private sector, government agencies, and educational institutions. He advocates for incentives for companies that invest in workforce training and increased public funding for apprenticeship programs and digital learning platforms. "No single entity can solve the skills crisis alone," he emphasized. "It will take all of us working together."
Miami Herald
6 days ago
- Business
- Miami Herald
Lowe's CEO has a tough message for young workers
Corporate America is drastically changing at a rapid pace. After the Covid pandemic came to an end, remote work began suddenly disappearing from company cultures across the country, as more CEOs mandate employees to return to working in the office five days a week. Don't miss the move: Subscribe to TheStreet's free daily newsletter Also, diversity, equity, and inclusion policies, which were developed to advance workplace opportunities for people of various backgrounds, are fading away from workplaces nationwide amid pressure from consumers and after President Donald Trump said the policies cause "illegal and immoral discrimination." Related: Amazon CEO warns employees of a harsh new reality In addition, artificial intelligence is growing rapidly and creeping into U.S. workplaces, which is worrying Americans. A survey from YouGov last year found that more than one-third of U.S. workers are worried that AI will result in job loss or fewer work hours. Bloomberg/Getty Images Amid this AI boom, Lowe's CEO Marvin Ellison said during Business Roundtable's CEO Workforce Forum in Washington, D.C., on June 17 that while AI threatens to take over corporate jobs, it can't complete front-line work. "AI isn't going to fix a hole in your roof," said Ellison. "It's not going to respond to an electrical issue in your home. It's not going to stop your water heater from leaking." He also said that young workers should seek these blue-collar jobs to maintain employment stability as AI expands. Related: Dell CEO's harsh new policy for employees isn't going as planned "When young people come to me and they desire to work in the corporate office, my advice to them is: stay as close to the cash register as you can," said Ellison. "Stay close to the customers, because you will always have employment opportunities to grow." Ellison also promoted Lowe's (LOW) education benefit program, which offers its employees tuition-free education for select degrees, boot camps, certificates, etc., allowing them to move on to jobs outside of Lowe's. "It could be a general contractor, could be a builder, and we're perfectly OK with that," said Ellison. "It fills the need that is much greater." Ellison's comments come after companies such as Amazon, IBM, Chipotle, JPMorgan Chase, and even the IRS have welcomed AI into their workplaces with open arms. Amazon CEO Andy Jassy even said in a memo to employees on June 17 that AI will replace some of the company's corporate jobs as it will "automate a lot of tasks that consume our time." More Labor: Amazon CEO gives hard-nosed message to employeesIRS has an alarming solution to a growing problem after layoffsJPMorgan Chase CFO issues stern warning to employees "As we roll out more Generative AI and agents, it should change the way our work is done," said Jassy. "We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs. It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company." AI use in U.S. workplaces has almost doubled over the past two years, according to a new Gallup survey. The survey found that 41% of employees use AI to generate ideas, 39% use it to consolidate information, and 39% use the technology to automate basic tasks. It also discovered that 27% of white-collar U.S. workers use AI regularly, compared to the 9% of blue-collar workers who use it often. While AI has grown in popularity in workplaces across the country, it still has more ground to cover. About 7 in 10 employees in the survey said they never use AI, while 1 in 10 say they use it at least weekly. Related: Lowe's CEO flags alarming consumer trend that's hurting sales The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
