JPMorgan Chase Report Finds Job Matching Technology Insufficient For Job Seekers, Employers

Technology innovations that match job seekers with employers are transforming the labor market, but these tools are not doing enough to help low and middle skill workers find quality jobs, according to a new JPMorgan Chase report. Both access and design issues are preventing potential employees and employers from identifying the appropriate job fit.

The report, " Swiping Right for the Job: How Tech is Changing Matching in the Workforce", highlights the problems low and middle skilled workers and employers face in using technology, explores how tech is changing labor market interactions, and identifies the benefits, challenges and design changes required for labor market technology to have its greatest impact.

"Despite an increase in technology usage, we're seeing missed opportunity in job matching due to design flaws and access barriers," said Chauncy Lennon, Head of Workforce Initiatives, JPMorgan Chase. "We've identified how to more efficiently connect people with the jobs and training they need and if we turn these lessons learned into smarter tools, we'll create economic opportunity for everyone."

Labor market matching technology exists primarily online, and low- and middle-skill workers, who typically have wages below the median, are disproportionately likely to lack access to computers and the internet at home. Only sixty-three percent of those with a household income between $20,000 and $50,000 have access to broadband internet at home, compared to 80 percent of those with a household income between $50,000 and $75,000.

While job seekers with varying degrees of education use their smart phones for job searching at approximately the same rate, job seekers who have not attended college are much more likely to go through the cumbersome process of using their smart phones to fill out an online job application and create a resume or cover letter than those who have graduated from college. Also, low- and middle-skill workers are more likely to lack proficiency in using computers and the Internet, making it difficult to navigate labor market matching technology.

If you liked this article you might like

These Powerful Corporate Executives Could Make a Run at the Presidency in 2020

JPMorgan CEO Jamie Dimon Attacks Bitcoin Again

SEC's Cyber-Gaffe Highlights Risk of Trump Budget Cuts at Agency

Bitcoin Will Soar to $5,000 Barring a Major Catastrophe

Strange Days at Apple