Summary of Who’s Generating the New Jobs, and What Skills Will Workers Need?

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Who’s Generating the New Jobs, and What Skills Will Workers Need? summary
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Industry leaders Gary Pinkus and Tom Fanning join former US secretary of commerce Penny Pritzker and economist Peter Orszag to discuss how to gird the workforce for the digital age. Following the substantive, sometimes contentious panel discussion, a lengthy Q&A roams “far off topic,” as Pritzker notes in an aside to the other panelists. You may choose to skim the Q&A, but getAbstract advises giving the 25-minute panel your full attention.

In this summary, you will learn

  • How technological disruptions could reshape the jobs market,
  • Why a massive burst of ATMs didn’t decrease the net number of US bank tellers and
  • How to overhaul education in support of the workforce’s changing needs.

About the Speakers

Gary Pinkus is a managing partner at consulting firm McKinsey & Company. Tom Fanning is CEO of the Southern Company, an energy producer. Penny Pritzker is the former US secretary of commerce. Economist Peter Orszag previously directed the US Budget Office.



A technological revolution is sweeping the United States, so why has national productivity growth slowed from 2.25% to 1.1%? Effects of disruption often manifest over the long run and take surprising turns. ATMs quadrupled in number in 25 years, yet didn’t decrease the ranks of bank tellers. Though banks hired fewer tellers, a boom of branch openings offset the downward trend. Moreover, the bank-teller job description expanded. Did ATMs make banking more productive? Arguably, no. But automation improved service standards. The dominant theories about technological disruption say that machines will...

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