How to create jobs in future? JP Morgan boss Jamie Dimon has this advice on employment

By: |
Updated: October 22, 2019 1:47:42 PM

Even as the Indian youth has top-notch skills, it’s time to train people for jobs that would matter in the future, Jamie Dimon, chairman, and CEO of JP Morgan Chase said.

In 2016, Jamie Dimon had all praises for PM Narendra Modi’s several initiatives. He then said that PM Modi is making all the right moves.

Even as the Indian youth has top-notch skills, it’s time to train people for jobs that would matter in the future, Jamie Dimon, chairman, and CEO of JP Morgan Chase told CNBC TV-18 in an interview. With this, India can effectively tackle the problem of unemployment, which is even seen in other parts of the world, he added. It’s important to research and find out the scope of jobs depending on the needs of different cities across the globe, Jamie Dimon said. Thereafter, the people coming out of the schools and colleges should be trained so that they can get good-paying jobs, the veteran banker said.

In 2016, Jamie Dimon had all praises for PM Narendra Modi’s several initiatives. He then said that PM Modi is making all the right moves. Dimon also said that the country features prominently in JPMorgan’s investment plans.

The recently released National Sample Survey Office’s (NSSO’s) periodic labor force survey (PLFS) had stated that unemployment was a 45-year low. It had stated that the rate was this high in 1972-73 and 2.2 per cent in 2011-12. There were 471.5 million persons employed and 30.9 million unemployed in 2018, according to the estimates based on official employment surveys and the Census.

Also read: FDI investors may soon get relationship manager in India; govt plans one more way to lure investments 

On being asked about the possibility of a recession in the wake of slowing down of the global economy which has equally affected both advanced and emerging economies, Jamie Dimon said that since India is still growing at near 5 percent, China is at 5 percent, and America is at 2 percent, it’s only looking to be a  slowdown. Meanwhile, in the month of August 2019, 40.3 crore people got new jobs, which surged by 70 lakh to 41 crore in September 2019. It was also nearly 70 lakh more than the year-ago level, CMIE data showed.

Do you know What is Fiscal Policy in India, Expenditure Budget, Customs Duty, Reverse Repo Rate, Receipt Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1India-US trade: Contours of a deal almost final, says Union minister Piyush Goyal
2Prepaid electricity meters: Early results leave more to be desired
3Onion prices dip, Lasalgaon asks govt to revoke export ban