Jamie Dimon warns of a scary global labour crisis: JPMorgan CEO says 'world is short on skills, not people'

Time of India

3 days ago

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.
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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The WEF projects that by 2030, 39% of essential job skills will be outdated.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.