innovation, technology and jobs group documents... · 16 innovation, technology and jobs as a share...
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September 21, 2015
Innovation, Technology and Jobs
Presented by:
Jack Ablin, CFA Chief Investment Officer BMO Private Bank 312-461-7756
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1 Innovation, Technology and Jobs
Innovation in America
1790 The Cotton Gin 1879 The Light Bulb 1850 The Steam Engine
1920 The Assembly Line 1958 The Integrated Circuit 2007 The Smart Phone
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2 Innovation, Technology and Jobs
Jobs in America
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3 Innovation, Technology and Jobs
American Lifestyles
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4 Innovation, Technology and Jobs
Components of the U.S. Workforce
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5 Innovation, Technology and Jobs
Innovation, Technology and Jobs
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6 Innovation, Technology and Jobs
$ Va
lue
Productivity
Ideas
Skills
Inflation
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7 Innovation, Technology and Jobs
Innovation, Technology and Jobs
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8 Innovation, Technology and Jobs
Innovation, Technology and Jobs
Over the last twelve months, employers
required a bachelor’s degree for most net new
jobs created.
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9 Innovation, Technology and Jobs
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10 Innovation, Technology and Jobs
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11 Innovation, Technology and Jobs
The demand for talent remains strong.
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12 Innovation, Technology and Jobs
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13 Innovation, Technology and Jobs
1838 1995
J.K. Rowling Charles Dickens
Value of Ideas
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14 Innovation, Technology and Jobs
Value of Ideas
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15 Innovation, Technology and Jobs
Value of Ideas
Ideas are great. Adoption rates
have accelerated making them
more valuable.
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16 Innovation, Technology and Jobs
As a share of GDP, corporate profits are rising
while compensation is
falling.
Capital versus Income
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17 Innovation, Technology and Jobs
Growth of capital, fueled by
ideas, has far outpaced income
growth.
Capital versus Income
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18 Innovation, Technology and Jobs
Innovation
The driverless car promises to propel
a nation of vehicles safely.
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19 Innovation, Technology and Jobs
Innovation
At last count, nearly two million Americans drive
for a living.
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20 Innovation, Technology and Jobs
Public Policy Implications
• Inflation • Immigration • Education and Training
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21 Innovation, Technology and Jobs
Public Policy Implications
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22 Innovation, Technology and Jobs
Public Policy Implications
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23 Innovation, Technology and Jobs
Public Policy Implications
The Fed is trying to raise
inflation expectations
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24 Innovation, Technology and Jobs
Public Policy Implications
Current Proposals could
substantially increase targeted
Immigration
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25 Innovation, Technology and Jobs
Public Policy Implications
H1B visa recipients fill a void in highly-skilled
positions.
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26 Innovation, Technology and Jobs
Public Policy Implications
H-1B employees are highly skilled
workers
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27 Innovation, Technology and Jobs
Public Policy Implications
Source: “New American,” The Partnership for a New American Economy
42% of America’s Fortune 500
Companies were Founded by 1st or
2nd Generation Immigrants
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28 Innovation, Technology and Jobs
Public Policy Implications
Online education is growing rapidly
as students gradually embrace
it.
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29 Innovation, Technology and Jobs
Public Policy Implications
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30 Innovation, Technology and Jobs
Public Policy Implications
Countries that don’t rely on
natural resources for growth must instead rely on brain power.
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31 Innovation, Technology and Jobs
Public Policy Implications
Cheap Capital
Government Recipe for Productivity
Governments don’t create growth. They create the environment for growth.
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32 Innovation, Technology and Jobs
Disclosure
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