Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksJPM.L Regulatory News (JPM)

  • There is currently no data for JPM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Good and Growing Middle-Skill Jobs Exclude Women, New Report Shows

24 Mar 2016 13:30

Women hold only a third of positions in growing middle-skill jobs that pay at least $35,000 or as much as $102,000 per year, according to a new report by the Institute for Women’s Policy Research (IWPR). These middle-skill jobs, which require a high school education but not a college degree, pay a living wage and can serve as a stepping stone to a higher-paying career for women workers, who now serve as the sole or co-breadwinner in half of American families.

The report, supported by JPMorgan Chase as part of its $250 million, five-year New Skills at Work initiative, analyzes jobs in the key growth sectors of manufacturing; information technology; and transportation, distribution and logistics (TDL), and compares the skills required for various lower-paid, female-dominated jobs to those required for higher-paying, male-dominated occupations. As companies throughout the United States face a skills shortage, the report identifies potential “on-ramp” occupations for women that will enable them to develop their existing skills to move into jobs in these growing sectors.

“Progress on closing the gender wage gap has slowed to a halt in the last decade,” said Ariane Hegewisch, IWPR Program Director for Employment & Earnings and lead author of the study. “At the same time, employers are facing a shortage in workers who can fill these fast growing jobs in middle-skill sectors. Integrating these occupations is a win-win-win for women, employers and the economy as a whole.”

Women’s earnings are essential to family economic security and broader economic growth, yet women still face a persistent gender wage gap, over half of which is due to occupational and industry segregation, where lower-paid jobs are typically held by women and higher-paying jobs are typically held by men. Women are also more likely than men to have completed high school, have some post-secondary college qualifications and have a 2- or 4-year degree. This highlights that not only are women lacking opportunities to build careers that can support their families, but American companies may be missing out on a skilled, educated workforce that can drive economic success.

“With some of the most important sectors in the U.S. economy lacking enough skilled workers to meet demand, there is an opportunity for women to obtain roles that have traditionally been held by men,” said Chauncy Lennon, Head of Workforce Initiatives, JPMorgan Chase. “Increasing access to new kinds of skills training for women would go a long way in tackling their underrepresentation in good manufacturing, IT and transportation jobs.”

The report finds a startling lack of women in higher-paying middle-skill occupations in each key growth sector:

In manufacturing, there will be 533,000 good jobs available over the next decade. Currently, only 7 percent of workers in these jobs are women. In information technology, there will be 240,000 good jobs available over the next decade. Currently only 29 percent of workers in these jobs are women. In transportation, distribution, and logistics, there will be 1.3 million good jobs available over the next decade. Currently, only 9 percent of workers in these jobs are women.

Using an innovative analysis of government occupational data, the report seeks to identify potential talent pipelines to help women move into these good jobs. IWPR researchers compared over 252 job characteristics—including training requirements, on-the-job tasks, and the attitudes, experiences and attributes of workers— to identify middle-skill, female-dominated occupations that can serve as “on-ramps” to male-dominated target jobs facing skills shortages. The analysis revealed:

Many women work in jobs that already have a similar skill profile to better-paying, male-dominated jobs. In fact, if 10 percent of women workers entered similar but higher-paying male-dominated jobs, the median earnings for these women would increase by over 50 percent, and for all women workers by 5 percent. Female packaging and filling machine operators could increase their earnings by over 50 percent by becoming welders. Women make up 56 percent of packaging and filling machine operators. Similar to welders, the job requires arm-hand steadiness, manual dexterity and control precision. With additional certified training, these women could have success in this higher-paying career path. Median annual earnings for welders are $38,762, which is 50 percent higher than the $25,851 per-year earnings for packaging and filling machine operators. Library assistants—8 in 10 of whom are women—get paid almost $24,000 less per year than IT support specialists, nearly 3 in 4 of whom are men. Based on the analysis, these two occupations share many similar characteristics, and with some additional training and education, library assistants could become IT support specialists, improving their own earnings and filling growing demand for IT workers.

The report concludes with recommendations for employers, policymakers and workforce developers to create more gender-inclusive environments that successfully retain female talent. IWPR also launched an accompanying interactive website, womenandgoodjobs.org, which provides a searchable database of middle-skills jobs, allowing users to see the relationship between lower and higher-paid middle-skill occupations and identify opportunities for “on-ramping” women workers into better jobs.

About The Institute for Women’s Policy Research (IWPR)

The Institute for Women's Policy Research (IWPR) is a 501(c)(3) tax-exempt organization that conducts rigorous research and disseminates its findings to address the needs of women and their families, promote public dialogue, and strengthen communities and societies.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Media:JPMorgan Chase & Co.Steve O’Halloran, 302-282-5699steve.ohalloran@chase.comorIWPRJennifer Clark, 202-785-5100clark@iwpr.org

View source version on businesswire.com: http://www.businesswire.com/news/home/20160324005689/en/

Copyright Business Wire 2016

Date   Source Headline
6th Jul 20177:00 amRNSDirector/PDMR Shareholding
5th Jul 20173:10 pmRNSForm 8.3 - Vantiv Inc.
5th Jul 20172:58 pmRNSForm 8.3 - JP Morgan Chase & Co
5th Jul 20171:16 pmRNSResponse to announcement by Worldpay Group plc
4th Jul 20177:00 amBUSJPMorgan Chase Announces Adjustment to Warrant Exercise Price
3rd Jul 20179:59 amRNSHolding(s) in Company
30th Jun 20177:00 amRNSJPMC&Co. Form 8-K dated June 28, 2017
29th Jun 20176:00 pmRNSHolding(s) in Company
29th Jun 20171:06 pmRNSNotice in Respect of Amendments to Debt Securities
29th Jun 20177:00 amBUSJPMorgan Chase announces 2017 CCAR results
28th Jun 201711:00 amRNSHolding(s) in Company
23rd Jun 20177:00 amBUSJPMorgan Chase Announces 2017 Dodd-Frank Act Stress Test Results
22nd Jun 201711:00 amBUSJPMorgan Chase Expands Economic Opportunity Initiative for Young Men of Color in Chicago, Dallas, Los Angeles and New York
20th Jun 201711:00 amRNSHolding(s) in Company
16th Jun 20177:00 amBUSJPMorgan Chase Declares Preferred Stock Dividend
15th Jun 20176:10 pmBUSFinancial Solutions Lab Announces Winners of $3 Million Fintech Competition to Improve Financial Health of Overlooked Populations in America
15th Jun 20174:18 pmRNSHolding(s) in Company
9th Jun 20177:00 amRNSJPMC&Co. Form 8-K dated June 8, 2017
7th Jun 20177:00 amRNSApplication to Delist Common Stock
5th Jun 20175:53 pmRNSDirector/PDMR Shareholding
24th May 20177:00 amRNSDirector/PDMR Shareholding
22nd May 201710:01 amBUSJPMorgan Chase Commits $17 Million to Create Skills-Based Summer Jobs for Young Adults
22nd May 20177:00 amRNSJPMC&Co. Form 8-K dated May 19, 2017
22nd May 20177:00 amRNSDirector/PDMR Shareholding
18th May 201712:31 pmRNSHolding(s) in Company
17th May 20174:22 pmRNSPublication of Final Terms
17th May 20177:00 amRNSDividend Declaration
17th May 20177:00 amBUSJPMorgan Chase Declares Common Stock Dividend
16th May 20177:00 amBUSJPMorgan Chase Declares Preferred Stock Dividend
15th May 20177:00 amRNSDirector/PDMR Shareholding
12th May 201710:33 amRNSStabilisation Notice
11th May 201712:01 pmRNSHolding(s) in Company
11th May 20178:43 amRNSStabilisation Notice
10th May 201710:32 amBUSJPMorgan Chase’s Investment in Detroit to Reach $150 Million
10th May 20177:00 amRNSHolding(s) in Company
9th May 20179:30 amRNSHolding(s) in Company
9th May 20177:00 amRNSDirector/PDMR Shareholding
9th May 20177:00 amBUSJPMorgan Chase 2017 Annual Meeting of Shareholders
5th May 201711:00 amBUSJPMorgan Chase Announces $6 Million to Prepare South Bronx Youth for High-Demand Jobs
4th May 20175:06 pmRNSDirector/PDMR Shareholding
4th May 20177:00 amRNSDirector/PDMR Shareholding
3rd May 20175:48 pmRNSPublication of Supplementary Prospectus
3rd May 201710:34 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
3rd May 20177:00 amRNSJPMC&Co. Form 10-Q (1Q 2017)
3rd May 20177:00 amBUSJPMorgan Chase Files Form 10-Q for the Quarter Ended March 31, 2017
2nd May 20177:00 amRNSDirector/PDMR Shareholding
28th Apr 201710:38 amRNSHolding(s) in Company
27th Apr 20175:05 pmRNSHolding(s) in Company
26th Apr 20175:05 pmRNSHolding(s) in Company
26th Apr 201711:31 amRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.