The unofficial capital of the Midwest will soon recover all of the jobs it has lost the last decade, but the “mismatch between job-seeker skills and business needs could hurt the region’s economic competitiveness and limit the financial well-being of hundreds of thousands of people in the Chicago area.”
That’s the upshot of a new report from JPMorgan Chase.
Chicago, more than many other cities, has a mix of both services and manufacturing. That’ll work to the city’s benefit, the report says, creating growth in a variety of industries, including healthcare and logistics. But among the challenges:
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- the region has a high number of long-term unemployed, and they’ve been out of work longer than the U.S. average.
- sadly, a lot of people have criminal records, making it harder for them to find jobs.
- the public workforce system spends a lot of money, but “only 3 percent flows to employers, suggesting that their influence on regional training priorities is limited.”
- And interestingly, this one: “… the heavy presence of staffing firms within logistics and independent contractors within trucking limit workers’ access to training, as employers prefer to direct their training resources to permanent employees.”