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Jamie Dimon’s harried JPMorgan Chase pushes campaign for worker training - The Washington Post

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JP Morgan CEO Dimon, says the lack of enough worker training is hurting the U.S. with unemployment one or two percentage points because of this. The lack of enough training efforts by business and government to add technical skills to workers existing skills is resulting in many jobs going unfilled in manufacturing and other fields.

Fast structural shift from banking, autos and retail to health care, energy, government and education in the USA, makes equally rapid government assisted retraining and cost sharing enormously critical.

01/28/2009

Retraining will be critical to shift workers from downsizing to upsizing industries and fields of work. The danger is that a growing mismatch in qualifications and lack of a crisis mode in retraining efforts will leave large numbers of people permanently unemployed. The shift is ocurring with lightining speed. Would government sharing the initail cost of hiring and retrainng workers help as in the German example and the Harz reforms. See link.

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"Kurzarbeit" and work sharing helped Germany deal with stubborn unemployment in the last decade and after the 2008 financial crisis. France is already looking at cooperation between industry, unions an government to reduce unemployment by adopting some of the actions taken in Germany.

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