Jamie Dimon: Working Is No Longer Enough for Gen Z

Artificial intelligence is reshaping Gen Z's entry into the job and housing markets, weakening the belief that stable work will provide a secure future. JPMorgan Chase CEO Jamie Dimon stated in an interview with CNN that while previous generations were able to build secure lives with stable jobs, today's workers face different conditions.

Dimon said, "When you graduate, whether from high school, community college, or university, you need to have the skills required to get a job." He noted that in the past, a person in 10th grade could get a factory job in Detroit and eventually own a family, house, and car.

However, he stated that this situation is no longer valid. The housing market provides one of the strongest signs of this change. The National Association of Realtors’ housing affordability index fell to 97.4 in the second quarter, indicating that typical families may not earn enough to qualify for a mortgage on a median-priced home.

The cost of living is not limited to housing. According to data from the Federal Reserve Bank, the costs of public education, school fees, and child care have risen from a level of 100 in 1983 to 897 as of September 2023. These pressures demonstrate that the importance of technical skills has increased, and these skills have become more valuable than before.

Dimon emphasized the importance of fields such as artificial intelligence and programming. The right training courses offer quick and accessible pathways to the workforce. While 24% of Gen Z expressed being "very concerned" that artificial intelligence will take their jobs in the next two years, this rate is reported to be 10% among workers aged 55 and older.

The U.S. Bureau of Labor Statistics projects that employment in specialized roles like wind turbine service technicians will grow by 50% from 2024 to 2034. The annual median salary for this position is estimated to be around $62,580, usually requiring a vocational certificate instead of a four-year degree.

During the same period, employment for solar photovoltaic installers is expected to increase by 42%; the median salary will be approximately $51,860, and typically necessitate a high school diploma and on-the-job training.

Dimon expressed that these examples indicate that workers need to develop targeted skills instead of general labor. New markets related to infrastructure, energy, and advanced computing require practical expertise that technology cannot easily replace. Furthermore, companies expanding artificial intelligence operations need skilled workers across various trades to meet increasing demand.