Narrowing the Jobs Gap

Goldman Sachs Exchanges

Julia McGonagle

Business

4.4 • 1K Ratings

🗓️ 12 September 2016

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Technology's rapid progress and expanding scope are having a significant impact on the nature of work. Steve Strongin, head of Goldman Sachs Research, and Sandra Lawson, director of the Global Markets Institute, explain why preparing for the jobs of the future is about more than STEM. This podcast was recorded on September 7, 2016. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2016 Goldman Sachs. All rights reserved.

Transcript

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0:00.0	This is exchanges at Goldman Sachs where people from our firm share their insights on developments
0:13.6	currently shaping markets, industries, and the global economy.
0:17.2	I'm Jake Seward, global head of corporate communications here at the firm.
0:21.2	In a new report, the Goldman Sachs Global Markets Institute finds that a jobs
0:25.1	gap exists today between the types of jobs people want and those that are actually
0:29.4	available. In no small part they argue because the onus of preparing oneself for a new industry falls
0:35.5	disproportionately on individual workers who are not well placed to bear the costs involved.
0:41.5	The report goes on to say that quote a new approach to risk sharing is needed.
0:46.5	To discuss that report I'm joined today by Steve Strongen, head of Goldman Sachs research and
0:51.3	Sandra Lawson,
0:52.5	Director of the Global Markets Institute,
0:54.6	the authors of that report.
0:56.0	Steve, Sandra, welcome to the program.
0:58.0	Thanks, Jake.
0:58.6	Glad to be here.
0:59.2	Sandra, clearly the idea that technological change
1:01.8	affects employment isn't new.
1:03.7	Why has it become such a pressing issue today and right now?
1:07.3	It certainly isn't a new idea or a new problem.
1:09.5	And if you think about the last couple of centuries of American history 200 years ago farming
1:15.1	dominated the economy and the labor force almost everybody was involved in
1:18.4	farming in some way. Today only about 2% of the labor force works in farming.
	...

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