Jamie Dimon, CEO of J.P. Morgan Chase, announced the launch of the Security and Resiliency Initiative, a 10-year, $1.5 trillion effort to boost the U.S. economy. This effort is designed to increase economic growth, innovation, and job creation, thereby enhancing American competitiveness.
Dimon listed many obstacles that stand in the way. Among them, he singled out the U.S. education system for being misaligned with the job skills needed in today’s labor market. He called for the “design of policies that can accelerate these efforts, including training, research, and development.” He further stated, “Apprenticeship and career education programs must be expanded to close the manufacturing skills gap.” Dimon’s final exhortation was, “We hope that America will come together to address these challenges, as we have in the past. We need to act now.”
The good news is that initiatives in several vital economic sectors are already underway in many U.S. communities. Health systems are collaborating with local high schools and community colleges to create skilled-worker pipelines. Bloomberg Philanthropies has provided $250 million to help fund 10 programs in Tennessee, Texas, and North Carolina to address vacancies in nursing, therapy, and technician positions.
Ballard Health is working to create a local labor pool with five northeast Tennessee school districts. Their program serves as a ladder, encouraging more students to pursue advanced medical training. Ballard helps to subsidize their education.
High School Inc., a non-profit foundation in Santa Ana, California, now operates six career academies with the support of local businesses, community organizations, the school district, and foundation grants. Since it began in 2007, High School Inc. has significantly improved the achievement levels of thousands of students, as evidenced by a 98 percent high school graduation rate and 89 percent of its graduates pursuing postsecondary education. High School Inc. is now expanding to other Santa Ana high schools because of its success in boosting student motivation and performance. Edwin, a senior year student, told Jack Oakes, the High School Inc. Board Secretary,” My experience at High School Inc. put me on a journey that reshaped my vision of the future.”
MOVING FORWARD
In the United Kingdom, a quarter of job vacancies are due to skills shortages. Not enough people have the right educational and job skills to match the economy’s needs. The British Prime Minister has set a new target for the education system: that two-thirds of youth participate in post-secondary learning, including academic, technical, and apprenticeship programs, by age 25. The government is setting up a new skills agency, expanding apprenticeships, and fostering the development of shorter technical and vocational courses in colleges and universities.
Similar initiatives need to be launched at the state level here in the United States, given the tremendous economic diversity across states. In the State of Wisconsin, a significant expansion of apprenticeship education started in the first decade of this century. Wisconsin has also focused on strengthening cooperation among businesses, its network of technical and community colleges, and the regional campuses of its university system.
Regional alliances have also been formed to amplify the state initiatives. The New North Inc. is a nonprofit corporation focused on fostering collaboration among the private and public sectors to promote economic development in 18 counties in northeast Wisconsin. This region also has four industry alliances in manufacturing, health care, construction, and information technology that are seeking to build talent pipelines through collaborative efforts with educational institutions and other community organizations.
Systemic initiatives to diversify and align education and training with today’s labor market needs are urgently needed. Statewide efforts such as those in Wisconsin point the way forward.
About the Author:
Edward E. Gordon is the founder and president of Imperial Consulting Corporation in Chicago. His firm’s clients have included companies of all sizes, from small businesses to Fortune 500 corporations, U.S. government agencies, state governments, and professional/trade associations. He taught in higher education for 20 years and is the author of numerous books and articles. More information on his background can be found at www.historypresentations.com . As a professional speaker, he is available to provide customized presentations on contemporary workforce issues.
