| Communities across the U.S. are navigating rapid shifts in the labor market: Employers are struggling to fill gaps in their talent pipelines and workers are seeking opportunities to develop the skills needed to secure well-paying jobs and build successful careers. Estimates show 60% of workers need updated skills training by 2027, yet only half have adequate access to career pathway programs.
With over 300,000 employees around the world, JPMorganChase is committed to expanding opportunities for skills development and career mobility. In Texas, where we employ more than 31,500 people, we’ve learned important lessons about how the public, private, and nonprofit sectors can work together to ensure that education and workforce systems are strategically aligned to meet the evolving needs of the labor market – and drive economic growth.
Zooming in on Austin
As part of JPMorganChase’s partnership with Axios and the U.S. Conference of Mayors, we hosted our second local Zoom In event in Austin, Texas, last week, bringing together elected officials, business and community leaders, and policy experts to discuss initiatives that expand talent pipelines, meet new job market needs, and boost broad economic growth. As stated by David Brewton, Vice Chair of the JPMorganChase Central Texas Market Leadership Team: “Texas is not just where we work, it’s where we live. For more than 155 years, JPMorganChase has helped improve housing options, provided clients with financial health resources, invested in the local workforce, and financed the schools, hospitals, and transportation hubs upon which Texans rely.” “This is the time to train your workforce. Sixty-percent of employees by 2027 will need some kind of upskilling and training, but only half of them have the right pathways to get to where they need to be,” said Diego Gordillo, Southwest Segment Head for JPMorganChase Commercial Banking. “So our message to business owners is: invest in your people.” The event included fireside chats with Austin Mayor Kirk Watson, Texas Workforce Commission Commissioner Joe Esparza, Texas 2036 Executive Vice President A.J. Rodriguez, and Workforce Solutions Capital Area CEO Tamara Atkinson, who discussed potential solutions government, the private sector, and community leaders can pursue to support workforce development and economic growth.
Following the mainstage discussions, JPMorganChase convened a roundtable with key community leaders to discuss Texas’ effort to align community college funding with state and education workforce strategies and develop career pathways that lead to well-paying jobs. The conversation delved into insights from a new JPMorganChase “What Works” brief, which explores strategies to strengthen the talent pipeline to meet workforce demands.
Powering Economic Growth in Texas
JPMorganChase has helped drive job creation, business growth, and economic growth across Texas for more than 155 years. In 2023 alone, we contributed over $1 billion to the Texas economy through goods and services purchased.
From Dallas to Austin to San Antonio to Houston to El Paso, we’re helping millions of clients, including over 8.5 million consumer banking customers, 775,000+ small business clients, and government and community leaders thrive and achieve their goals.
You can read more about JPMorganChase’s impact in Texas in the Annual Letter to Shareholders by Jamie Dimon, Chairman and CEO at https://www.jpmorganchase.com/ir/annual-report/2024/ar-ceo-letters.
You can also learn more about how the firm supports careers and skills development in Texas at https://www.jpmorganchase.com/communities/dallas.
What’s Next
Stay tuned for our next event taking place in Columbus in June! You can read more about Zoom In and check out the content hub here. |
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