Today JP Morgan Chase released a report breaking down the lack of jobs for the residents of Detroit. Stating that only about 26 percent of the jobs in Detroit are held by residents while the additional 64 percent are commuters from the suburbs. According to T6he Detroit News JP Morgan Chase links the gap to a few factors:
Not enough jobs in Detroit: Few Detroiters work in in the city because there are not enough suitable jobs. Only about 26 percent of jobs in Detroit are held by people who live in the city. Nearly two in three, or 64 percent, of Detroit workers commute to the suburbs. A large number of those who work in the suburbs are in the lowest wage bracket. That’s because there are very few entry-level job opportunities in the city limits, the study found.
Skills and education mismatch: While Detroit lacks a suitable number of private-sector jobs, many residents lack the necessary skill and education levels to qualify for the jobs that are available. More than seven in 10, 71 percent, of Detroiters with a bachelor’s degree are employed, but only 13 percent of Detroiters have attained that level of education. More than half of Detroiters without high school diplomas — 55 percent — aren’t attached to the labor force.
Lower income, minority Detroiters face greatest challenges: The need to travel outside of the city for lower-skill jobs creates an excessive additional travel and child care expenses for the lowest income Detroiters. Furthermore, 61 percent of unemployed Detroiters ages 20 to 64 had incomes below the poverty line, underscoring the need for support services to help Detroiters achieve self-sufficiency. Additionally, African-American residents are more than twice as likely to be unemployed than white residents
“We are starting to see strong signs of progress in our efforts to reduce unemployment and provide Detroit residents with pathways to good jobs and careers,” Detroit Mayor Mike Duggan said in the report. Duggan has formed the Mayor’s Detroit Workforce Development Board to address the city’s labor challenge. “The tremendous work done by JPMorgan Chase and CSW for this report gives us an invaluable tool in supporting our new Workforce Development Board as it tackles the challenges ahead.”
Read the article in it’s entirety at The Detroit News.
REPORT: ICYMI Detroit Lacks Jobs For It’s Residents was originally published on wchbnewsdetroit.com