>>> FUNDING FOR "BUSINESS BEAT" PROVIDED BY -- PROUDLY SERVING NEW JERSEY BUSINESS COMMUNITY.

LIGHTING THE PATH, LEADING THE WAY.

VISIT IBEW102.ORG.

AND FOR MORE THAN 110 YEARS NJBIA HAS BEEN FOCUSED ON THE ADVANCEMENT AND SUCCESS OF OUR MEMBERS.

WE'RE THE VOICE REPRESENTING ALL INDUSTRIES, WORKING TOGETHER TO HELP BULD A MORE PROSPEROUS NEW JERSEY THROUGH ADVOCACY, SUPPORT, NETWORKING, AND BENEFITS.

>>> THIS WEEK ON "NJ BUSINESS BEAT," FULL SPEED AHEAD.

>> THIS ARTERY HAS BEEN CHOKING THE ECONOMIC STRENGTH OF THE REGION.

>> THE LONG STALLED GATEWAY PROJECT GETS A PRESIDENTIAL PUSH.

>>> PLUS HOW -- >>> AND WITH A POSSIBLE RECESSION LOOMING, WE LOOK AT THE JOB MARKET, INCLUDING HERE AT BROOK DALE COMMUNITY COLLEGE, WHERE STUDENTS ARE GETTING THE SKILLS THEY NEED TO GET THEIR FIRST JOB, EVEN IN AN ECONOMIC DOWNTURN.

THAT'S STRAIGHT AHEAD ON "NJ BUSINESS BEAT."

>> Announcer: THIS IS "NJ BUSINESS BEAT" WITH RHONDA SCHAFFLER.

>>> THANKS FOR JOIN US ON "NJ BUSINESS BEAT."

I'M RHONDA SCHAFFLER.

A LONG AWAITED TRANSPORTATION PROJECT VIEWED AS ESSENTIAL FOR NEW JERSEY ECONOMY HAS RECEIVED NEW FEDERAL FUNDING.

THE $16 BILLION GATEWAY TUNNEL PROJECT WOULD BUILD TWO NEW RAIL TUNNELS UNDER THE HUDSON RIVER BETWEEN NEW JERSEY AND NEW YORK.

GRE GATEWAY HAS BEEN A WORK IN PROGRESS FOR YEARS, AS OFFICIALS FIGURED OUT HOW TO PAY FOR IT.

THIS PAST WEEK, PRESIDENT BIDEN JOINED NEW JERSEY OFFICIALS FOR AN ANNOUNCEMENT IN NEW YORK CITY, WHERE HE PLEDGED $292 MILLION FOR GATEWAY AND PROMISED THERE WOULD BE MORE TO COME LATER.

>> IT'S GOING TO TAKE TIME.

IT'S A MULTIBILLION DOLLAR EFFORT BETWEEN THE STATES AND THE FEDERAL GOVERNMENT.

BUT WE FINALLY HAVE THE MONEY, AND WE'RE GOING TO GET IT DONE.

I PROMISE YOU.

WE'RE GOING TO GET IT DONE.

>> WHEN TRAINS CAN'T GET THROUGH THE CURRENT CRAMPED TUNNEL, NOT JUST THE ENTIRE NORTHEAST CORRIDOR, BUT OUR ENTIRE ECONOMY COMES TO A HALT.

PEOPLE CAN'T GET TO WORK.

COMMUTERS' SAFETY IS COMPROMISED.

TRAINS ARE LEFT IDLING, FOLLOWING OUR ERROR.

>> YOU MAY WANT TO THINK TWICE BEFORE YOU SWIPE YOUR CREDIT CARD THIS WEEKEND, ESPECIALLY IF YOU DON'T PAY OFF YOUR BILL EACH MONTH.

IT'S GOING TO COST YOU MORE TO BORROW MONEY.

WHETHER YOU'RE USING YOUR CREDIT CARD, OBTAINING A CAR LOAN, OR GETTING STUDENT LOANS AND MORTGAGES.

THE FEDERAL RESERVE RAISED INTEREST RATES YET AGAIN.

IT WAS THE EIGHTH STRAIGHT INCREASE FROM THE FED.

BUT THE RATE HIKE WAS SMALLER THAN IN PREVIOUS MONTHS.

STILL, INTEREST RATES WERE AT THEIR HIGHEST LEVEL SINCE 2007.

SOME ECONOMISTS WORRY THAT THE FED WILL RAISE RATES TOO MUCH AND CAUSE A RECESSION.

MICHAEL AFEW SEW, THE PRESIDENT AND CEO OF THE NEW JERSEY BANKERS' ASSOCIATION SAYS EVEN IF THE ECONOMY SLOWS, NEW JERSEY BUSINESSES ARE PREPARED.

>> THE EFFECTS ARE BEGINNING TO TAKE HOLD.

HOWEVER, BUSINESSES ARE FLUSH WITH CASH, SO THEY'RE USING WHATEVER CASH THAT THEY HAVE ON THE SIDELINES TO, YOU KNOW, ABATE THE NEED TO GO OUT AND GET A NEW LINE OF CREDIT AT A SIGNIFICANTLY HIGHER RATE.

SO, I THINK THERE'S GOING TO BE A LAG EFFECT, BUT I ALSO THINK THAT THIS EXTRA CASH CREATES A SMOOTHING EFFECT THAT MAYBE WE WILL, INDEED, HAVE A SOFT LANDING.

>> HIGHER INTEREST RATES AND INFLATION HAVE TEAMED UP TO CREATE FINANCIAL CHALLENGES FOR MANY WHO LIVE IN NEW JERSEY.

WORKING FAMILIES STRUGGLE TO MAKE ENDS MEET.

THIS IS WHY NEW JERSEY POLICY PERSPECTIVE IS PROPOSING THAT THE STATE EXPAND NEW JERSEY CHILD TAX CREDIT PROGRAM.

UNDER THE PROGRAM APPROVED LAST YEAR, ELIGIBLE FAMILIES RECEIVE UP TO $500 FOR EVERY CHILD UNDER THE AGE OF 6.

NJ POLICY PERSPECTIVE ARGUES THAT THE MAXIMUM AMOUNT SHOULD BE INCREASED TO $1,000 FOR KIDS UNDER SIX YEARS OLD.

AND SENIOR POLICY ANALYST PETER CHIN SAYS THE PROGRAM SHOULD ALSO BE CHANGED TO MAKE CHILDREN UNDER THE AGE OF 12 ELIGIBLE FOR THE CREDIT.

>> FAMILIES NEED HELP TO ACTUALLY BE AEBLE TO LIVE HERE AND TO TAKE ADVANTAGE OF THOSE OPPORTUNITIES.

AND THE CHILD TAX CREDIT, ALONG WITH OTHER TAX CREDITS, LIKE THE EARNED INCOME TAX CREDIT, ARE A GREAT EXAMPLE OF PROGRAMS THAT HELP FAMILIES DIRECTLY.

>>> THIS IS BLACK HISTORY MONTH, AND THROUGHOUT FEBRUARY, "NJ BUSINESS BEAT" WILL BE BRINGING YOU STORIES OF SUCCESSFUL BLACK ENTREPRENEURS AND BUSINESS LEADERS IN THE GARDEN STATE.

THE FIRST WE WOULD LIKE YOU TO GET TO KNOW IS LISA -- SHE CALLS HERSELF THE INVENTRESS.

SHE'S MADE A CAREER OF INVENTING PRODUCTS AND SELLING THEM ON TELEVISION NETWORKS.

HER PATH WASN'T EASY, AND THAT'S WHY SHE LAUNCHED HER OWN NON-PROFIT TO HELP FEMALE INVESTORS IN UNDERSERVED COMMUNITIES.

WE CHATTED EARLIER THIS WEEK.

>> THANK YOU SO MUCH FOR JOINING ME ON "NJ BUSINESS BEAT."

>> THANK YOU FOR HAVING ME, RHONDA.

I'M LOOKING FORWARD TO IT.

>> I'M SO INTRIGUED BY YOUR STORY.

HOW DOES ONE BECOME AN INVENTOR?

>> FOR ME, I DIDN'T BECOME INVENTOR.

I THINK IT'S JUST IN MY DNA.

I THINK I WAS AN INVENTOR AT BIRTH.

EVERY SINGLE ISSUE I SEE AROUND ME, PROBLEM, PRODUCT, I FIX IT, I REDESIGN IT AND RECREATE.

I'VE DONE THAT SINCE I WAS 9 YEARS OLD.

I THINK SOME PEOPLE JUST HAVE THAT.

WHETHER YOU'RE AN ARTIST, ARTIST WHO DRAWS, TAKES PICTURES, PHOTOGRAPHY, I THINK YOU'RE BORN WITH IT HONESTLY.

AND I BELIEVE I WAS BORN TO BE AN INVENTOR.

>> YOU WEREN'T ONLY BORN WITH THAT.

YOU WERE ALSO BORN WITH THE NEED TO HELP OTHERS.

AND ONE THING THAT YOU DO IS BRING WOMEN INVENTORS, ENTREPRENEURS, AND TRY TO HELP THEM AND GUIDE THEM.

WHY IS IT IMPORTANT FOR YOU TO GIVE BACK IN THIS WAY?

AND HOW DID YOUR OWN EXPERIENCES SHAPE YOUR PHILOSOPHY ON THAT?

>> SO, RHONDA, MY GOAL IS TO SEE EVERY SINGLE CLIENT I HAVE SUCCEED IN MY BUSINESS.

SO, FIRST, INVENTING A TO Z, WHERE I HELP PEOPLE DEVELOP PRODUCTS ALL THE WAY TO THE MARKETPLACE.

I SPUN OFF THE ASSOCIATION OF WOMEN INVENTORS, WHERE I HELP WOMEN, MANY MEN ALSO, COME UP AND SPEAK ON STAGE AT CONFERENCES TWICE A YEAR.

COME UP, COME TO THE CONFERENCES, SPEAK, AND TALK ABOUT THEIR EXPERIENCES.

MY EXPERIENCE IN DEVELOPING PRODUCTS WAS NOT AN EASY ONE.

MY JOURNEY WAS NOT EASY.

AND I VOWED THAT WHEN I BECAME SUCCESSFUL AT DEVELOPING PRODUCTS, I WOULD TEACH OTHER PEOPLE TO DO THE SAME.

AND BY DOING IT IN A BROADER SENSE, I STARTED THE CONFERENCES, BRINGING MORE PEOPLE IN TO SHOWCASE AND SHARE THEIR EXPERIENCES.

SO, AS I SAID, MY GOAL IS TO SEE ALL PEOPLE SUCCEED.

I'M NOT HERE FOR MYSELF.

I DON'T BELIEVE ANY OF US.

I THINK WE'RE SUPPOSED TO GIVE AND GIVE BACK.

>> LISA, YOU SAY YOUR JOURNEY WASN'T EASY.

WHAT WERE SOME OF THE ROAD BLOCKS YOU ENCOUNTERED?

>> ONE OF MY FIRST INVENTIONS WAS A BREAST FEEDING AID.

I WAS YOUNG WHEN I HAD MY FIRST CHILD.

I WAS VERY EMBARRASSED TO NURSE IN PRODUCT.

SO, I HAD TO CREATE AND DEVELOP THIS PRODUCT.

I HAD TO.

AND WAS VERY, VERY DRIVEN, MOTIVATED TO GET MANUFACTURED AND OUT TO THE GENERAL PUBLIC BECAUSE I SAID, IF I'M HAVING THIS EMBARRASSMENT ISSUE, OTHER WOMEN LIKE MYSELF ARE GOING THROUGH THE SAME THING.

AND EVEN THROUGH THAT, I MEAN, JUST FINDING A PATH AND A JOURNEY TO GET MY PRODUCTS MANUFACTURED AND TO THE MARKET WAS A REAL CHALLENGE.

SO, AGAIN, YOU KNOW, WHEN I FOUND MY LEGS AND THE WAY TO WALK THROUGH THIS JOURNEY, I SAID, I HAVE TO HELP OTHER PEOPLE BECAUSE I KNOW HOW HARD IT IS.

>> DID YOU FACE ANY HURDLES, IN YOUR VIEW, BECAUSE YOU'RE A WOMAN OR A BLACK WOMAN?

OR WAS IT REALLY JUST, IT'S A HARD PROCESS AND YOU WERE TRYING TO NAVIGATE IT?

>> BEING A WOMAN, A BLACK WOMAN, WHEN I STARTED, YES.

I FOUND THERE WAS A LITTLE BIT OF A PUSHBACK IN MEETINGS, ET CETERA.

I WOULD HAVE CORPORATE MEETINGS AND NOT NECESSARILY TAKE TN SERIOUSLY.

I HAD TO PUSH THROUGH THAT AS WELL.

WHEN I REALIZED THERE WAS PUSHBACK AGAINST WHO I WAS, NOT PERSONALLY, I KNEW THAT I HAD TO WORK HARDER, WORK HARDER AND PUSH HARDER TO GET TO WHERE I AM TODAY.

>> WELL, YOU DEFINITELY HAVE HAD A LOT OF SUCCESS.

AND I'M SO HAPPY YOU'VE SPENT SOME TIME WITH ME TO TALK ABOUT IT.

THANK YOU SO MUCH.

>> THANK YOU FOR YOUR TIME TODAY, RHONDA.

IT WAS A PLEASURE.

>> DESPITE SOME HIGH PROFILE LAYOFF ANNOUNCEMENTS IN RECENT WEEKS, THE U.S. JOB MARKET IS A LOT HEALTHIER THAN PEOPLE THOUGHT.

ON FRIDAY, THE GOVERNMENT RELEASED ITS JOBS REPORT FOR JANUARY, AND IT WAS A SHOCKER.

517,000 NEW JOBS WERE ADDED LAST MONTH.

THAT WAS WELL ABOVE EXPECTATIONS.

THE UNEMPLOYMENT RATE DROPPED TO 3.4%, MATCHING NEW JERSEY'S UNEMPLOYMENT RATE.

>>> JANUARY'S BLOCKBUSTER JOBS REPORT COMES EVEN AS WE'VE SEEN A PICKUP IN THE NUMBER OF COMPANIES CUTTING STAFF, ESPECIALLY AMONG TECHNOLOGY FIRMS.

AMAZON ANNOUNCED 18,000 JOB CUTS, AND ALPHABET, THE PARENT COMPANY OF GOOGLE, IS SLASHING 12,000 WORKERS.

MICROSOFT CUTTING 10,000 JOBS.

SALESFORCE SLASHING 7,000 WORKERS.

AND IBM IS GIVING PINK SLIPS TO 4,000 OF ITS EMPLOYEES.

>>> A REPORT FROM THE BUREAU OF LABOR STATISTIC THIS IS PAST WEEK PROVIDES A CLOSER LOOK AT WHAT'S HAPPENING IN THE JOB MARKET.

COMPANIES ARE STILL LOOKING FOR WORKERS.

THERE ARE 11 MILLION OPEN POSITIONS IN THE U.S., STILL MORE JOBS AVAILABLE THAN WORKERS TO FILL THEM.

THE LARGEST INCREASE IN AVAILABLE POSITIONS SAME FROM THE HOSPITALITY AND FOOD INDUSTRY.

THE NUMBER OF PEOPLE QUITTING THEIR JOBS, 4.1 MILLION, REMAINED FAIRLY STEADY.

LAYOFFS ALSO FAIRLY STEADY AT 1.5 MILLION.

BUT THAT NUMBER IS FROM DECEMBER AND DOESN'T TAKE INTO ACCOUNT THE RECENT LAYOFFS IN TECH.

A LAYOFF CAN BE SCARY.

IF YOU'RE FASHION JOB LOSS, THERE ARE SEVERAL WAYS TO PREPARE YOURSELF.

I GOT SOME ADVICE ABOUT THAT FROM JULIE WYCKOFF, FOUNDER OF NORTH JERSEY BASED CUSTOM CAREER SOLUTIONS.

SHE ALSO SHARED WHAT STEPS YOU SHOULD TAKE IF YOU'RE THINKING ABOUT MAKING A CAREER TRANSITION.

JULIE, THANKS FOR YOUR TIME TODAY.

>> THANK YOU FOR HAVING ME.

>> THERE ARE A LOT OF SCARY HEADLINES ABOUT LAYOFFS THESE DAYS.

AND WE CERTAINLY KNOW THAT THOUSANDS OF WORKERS, PARTICULARLY IN TECHNOLOGY, HAVE BEEN GIVEN LAYOFF NOTICES.

HOW DO YOU ADVISE YOUR CLIENTS ON HOW TO TRY TO PROTECT THEMSELVES IF THEY SEE LAYOFFS ARE COMING?

>> WELL, A LOOMING RECESSION CAN BE ANXIETY-PRODUCING.

THE TRUTH IS WE SPEND A LOT OF OUR TIME IN CAREER TRANSITION THROUGHOUT OUR LIVES.

SO, WE HAVE TO DEAL WITH AN ECONOMIC RECESSION EVERY SEVEN YEARS.

PEOPLE CHANGE JOBS EVERY THREE YEARS.

AND THE AVERAGE PERSON HAS THREE DISTINCT CAREERS IN THEIR LIFETIME.

SO, THE GOOD NEWS IS CAREER TRANSITION IS A PROCESS THAT EVERYONE CAN AND SHOULD LEARN, REGARDLESS OF WHETHER THERE'S A RECESSION COMING OR NOT.

THE OTHER THING I WOULD ADVISE JOB SEEKER SS TO REMEMBER REGARDLESS WHAT'S HAPPENING IN THE MACRO ECONOMY, ALL YOU NEED TO FIND IS ONE JOB THAT'S A FIT FOR YOU.

>> IN SOME WAYS, IT'S HARDER AND EASIER TO FIND JOBS THESE DAYS.

HOW HAS THE ACTUAL JOB HUNTING PROCESS CHANGED, AND HOW DO YOU STAND UP, OUT, ABOVE THE NOISE ON SOCIAL MEDIA?

>> ONE UNCERTAINTY THAT I THINK NEW JERSEY JOB SEEKERS FACE IN THIS ECONOMY THAT WASN'T NECESSARILY THERE IN PREVIOUS ECONOMIC DOWNTURNS IS THE SHIFTING BETWEEN REMOTE WORK AND HYBRID AND IN OFFICE WORK.

SO, A LOT OF MY FINANCIAL SERVICES, PROFESSIONALS FOR EXAMPLE, WHO MAYBE HAVE MOVED OUTSIDE A COMMUNICABLE DISTANCE AND WERE WORKING REMOTELY, ARE NOW BEING CALLED BACK TO THE OFFICE AND HAVE TO EITHER RELOCATE OR FIND ANOTHER ROLE.

SO, THAT'S AN UNCERTAINTY WE DIDN'T REALLY DEAL WITH IN THE PAST.

ANOTHER CHANGE THAT I'M SEEING IN THE MARKET IS I AM STARTING TO HEAR INTERNAL RECRUITERS SAY THAT HIRING IS SLOWING IN THEIR ORGANIZATIONS, AND I'M EVEN SEEING SOME INTERNAL RECRUITERS BEING LET GO THEMSELVES AND FACING JOB LOSS THEMSELVES.

SO, ON THE FLIP SIDE, I AM SEEING CONTINUED HIRING IN SECTORS SUCH AS EDUCATION AND HOSPITALITY.

I KNOW YOU DID A WHOLE SHOW ON HOSPITALITY.

WHILE THERE WAS A BIG UPTICK IN 2022, I'M STILL SEEING PEOPLE PLACED IN HOSPITALITY ROLES.

AND THE K HAD, THE HEALTH CARE SECTOR IS STILL HIRING A LOT OF NEW HIRES.

>> HOW DO YOU MAKE A CAREER TRANSITION?

LET'S SAY YOU'RE SICK OF WHAT YOU'RE DOING, YOU'D LIKE TO BE IN A FIELD THAT'S GROWING.

MAYBE YOU DON'T HAVE THE SKILL SETS.

MAYBE YOU DON'T HAVE THE CONTACTS.

HOW DO YOU MAKE THAT HAPPEN FOR YOURSELF?

>> YOU REALLY DO NEED TO START WITH WHAT ARE MY INNATE TALENTS?

WHAT ARE MY MOTIVATING SKILLS?

AND WHAT ARE MY VALUES?

AND HOW DO I COMMUNICATE THOSE TO AN EMPLOYER?

SPECIFICALLY YOU WANT TO FOCUS ON THE BENEFITS OF THE ATTRIBUTES YOU HAVE AND SPEAK IN A LANGUAGE THAT MATTERS TO YOUR EMPLOYERS.

I THINK ANOTHER KEY THING IS TO UNDERSTAND YOUR TARGET MARKET.

IF YOUR JOB IS IN JEOPARDY, LOOK AT YOUR FUNCTIONAL MARKETPLACE, LOOK AT YOUR INDUSTRY AND DECIDE IF YOU MAY NEED TO MAKE A PIVOT.

ONE OF THE BEST WAYS TO GO ABOUT A JOB SEARCH IS TO CULTIVATE INTERNAL REFERRALS.

AND WE ALWAYS HEAR THIS AND IT'S SO MUCH HARDER TO DO -- SO MUCH EASIER TO SAY THAN IT IS TO DO.

BUT ONE WAY YOU CAN DO IT IS TO WRITE A LIST OF 20 TARGETED COMPANIES OF INTEREST TO YOU AND MAKE A LIST OF ANYONE YOU KNOW INSIDE THOSE COMPANIES OR LOOK FOR PEOPLE WHO YOU KNOW WHO KNOW PEOPLE IN THOSE COMPANIES AND ASK FOR INTRODUCTIONS.

>> SOME GREAT ADVICE.

I REALLY HOPE MOST OF OUR VIEWERS DO NOT HAVE TO GO THROUGH THIS AND THEY'RE ABLE TO NAVIGATE CAREER CHANGES ON THEIR TERMS.

THANK YOU SO MUCH FOR YOUR TIME.

>> THANK YOU, RHONDA.

>>> ONE OF THE TOUGHEST THINGS EARLY IN YOUR WORKING LIFE IS TO FIGURE OUT WHAT INDUSTRIES ARE GROWING AND WILL PROVIDE YOU WITH CAREER OPPORTUNITIES.

AS WE REPORTED LAST WEEK, ONE INDUSTRY SHOWING PROMISE FOR JOBS IS CLEAN ENERGY, AS THE STATE AND INDUSTRY MOVE TO PUT MORE ELECTRIC VEHICLES ON THE ROADS.

EDUCATORS AT BROOK DALE COMMUNITY COLLEGE IN MAMMOTH COUNTY SAW THE NEED FOR WORKERS WHO WERE TRAINED IN THE MAINTENANCE AND REPAIR OF ELECTRIC VEHICLES.

THE SCHOOL WILL BE INFUSING EV TECHNOLOGY INTO THE CURRICULA SO THAT GRADUATES FROM BROOK DALE'S AUTOMOTIVE TECHNOLOGY DEPARTMENT ARE READY FOR THE FUTURE.

WE WENT TO BROOKDALE THIS WEEK FOR A FIRSTHAND LOOK.

WELL, IT'S GREAT TO BE TALKING TO YOU IN THE MIDDLE OF THE AUTOMOTIVE TECHNOLOGY CENTER HERE AT BROOKDALE COMMUNITY COLLEGE.

WE HEAR SO MUCH ABOUT HOW DIFFICULT IT IS TO FIND SKILLED LABOR.

THAT'S WHAT YOU'RE DOING HERE IS REALLY CREATING THE NEXT GENERATION.

>> WE TAKE THE COMMUNITY IN THE MIDDLE OF OUR NAME BROOKDALE COMMUNITY COLLEGE VERY SERIOUSLY.

ONE THING WE WANT TO MAKE SURE WE'RE DOING IS THAT WE'RE ABLE TO PIVOT QUICKLY AND MEET COMMUNITY NEEDS AS THEY ARISE.

ONE THING THAT WE TRY TO DO VERY WELL HERE IN PARTICULAR IS WORK FORCE.

ON THE AUTOMOTIVE SIDE OF THINGS, WE'RE PARTICULARLY EXCITED THAT IN THE NEAR FUTURE, WE'LL BE OFFERING ELECTRIC VEHICLE TRAINING TO OUR GRADUATES.

OUR GOAL IS THAT EVERYBODY WHO GRADUATES FROM BROOKDALE WITH A CERTIFICATE OR DEGREE IN AUTOMOTIVE TECHNOLOGIES WILL BE QUALIFIED THE WORK ON ELECTRIC VEHICLES.

IT'S AN OPEN FIELD.

THE JOBS ARE STILL BEING CREATED.

AND IF YOU'RE INTERESTED IN THAT KIND OF THING, WE'RE GOING TO HAVE YOU ON THE GROUND FLOOR.

>> GIVEN NEW JERSEY'S PUSH TO ELECTRIFY VEHICLES, THE NUMBER OF JOBS THAT WILL BE CREATED HERE, YOU PROBABLY CAN'T EVEN ADD THEM UP YET.

>> WELL, EVEN SHORT-TERM, WE'RE TALKING ABOUT SEVERAL HUNDRED THOUSAND NEW VEHICLES ON THE ROAD.

WE'RE GOING TO NEED PEOPLE TO SERVICE AND REPAIR THOSE VEHICLES.

AND AS MUCH AS WE'RE MAKING ADVANCES IN TERMS OF THE TECHNOLOGY, IT'S ALWAYS GOING TO TAKE SOME TIME FOR THE TRAINING ASPECT OF THINGS TO CATCH UP.

AND YOU KNOW, WE WANT TO BE THERE AND BE ABLE TO TAKE ADVANTAGE.

>> FOR ANYONE THAT'S ACTUALLY OPENED UP THE HOOD OF A CAR, THINK THAT YOU CAN MAYBE FIX SOMETHING YOURSELF, IT'S GOTTEN A LOT MORE COMPLICATED OVER THE YEARS.

SO, THE UPSKILLING IS AN ONGOING PROCESS REALLY.

>> IF YOU KNOW CARS, YOU KNOW CARS.

WHEN WE START TALKING ABOUT SERVICING ELECTRIC VEHICLES, YOU'RE GOING TO NEED TO KNOW A LITTLE EXTRA.

IN ADDITION TO HAVING ANYONE WHO GRADUATES FROM HERE BEING CERTIFIED TO WORK ON ELECTRIC VEHICLES, WHAT WE'RE ALSO PLANNING ON DOING IS OFFERING WHAT THEY REFER IN EDUCATIONAL CIRCLES IS A STACKABLE CREDENTIAL, WHICH BASICALLY MEANS IS YOU'RE OUT THERE AND YOU KNOW HOW TO WORK ON CARS, YOU'RE CERTIFIED, THIS STACKABLE CREDENTIAL IS AN ADD-ON.

>> EVEN BEFORE THE EV TRAINING ROLLS OUT, THESE STUDENTS HERE ARE FINDING JOBS ONCE THEY GET THROUGH THE PROGRAM.

AND THERE ARE CONNECTIONS ALREADY MADE.

AND IT'S SOMETHING, PERHAPS, WORTH THINKING ABOUT, AS A LOT OF PEOPLE ARE WORRIED ABOUT THE JOB MARKET.

THEY'RE WORRIED ABOUT AN ECONOMIC DOWNTURN.

TO KNOW YOU CAN GET THROUGH A PROGRAM AND FIND WORK IS PRETTY SIGNIFICANT.

>> WE'RE LUCKY IN S.T.E.M.

IN THAT YES, THE JOB MARKET IS VERY GOOD.

AND WE HAVE A STRONG WORK FORCE FOCUS HERE AT BROOKDALE AS PART OF THE MISSION TO THE COMMUNITY.

I CAN JUST SAY ANECDOTALLY THAT EVEN BEFORE OUR STUDENTS GRADUATE, SAY IN THEIR LAST SEMESTER, WE HAVE PEOPLE CONTACTING US SAYING, COULD YOU PLEASE GIVE US AN ENGINEERING STUDENT WHO IS ABOUT TO GRADUATE?

THEY HAVE JOBS BASICALLY WAITING FOR THEM WHEN THEY COME OUT.

AND HAVING KNOWLEDGE AND CERTIFICATION IN WORKING ON ELECTRIC VEHICLES, THAT DEMAND IS GOING TO GO THROUGH THE ROOF.

>> DO YOU THINK IT'S RECESSION PROOF IN TERMS OF THE AUTO TRAINING?

>> I THINK FOLKS GOING THROUGH THE PROCESS OF GETTING CERTIFIED IN ELECTRIC VEHICLES, THEY'RE GOING TO BE ABLE TO WRITE THEIR OWN TICKET.

WE TALK WITH PEOPLE IN INDUSTRY.

I'M PARAPHRASING A LITTLE BIT.

BUT SPEAKING WITH PEOPLE THAT ARE FAIRLY BIG PLAYERS IN TERMS OF INDUSTRY IN THE REGION, I'VE HAD THESE FOLKS TELL ME ONE ON ONE, IF WE HAVE SOMEBODY THAT, YOU KNOW, AS A CERTAIN LEVEL OF CERTIFICATION IN ELECTRIC VEHICLES, THEY CAN -- AND I'M QUOTING HERE -- WRITE THEIR TICKET.

THEY CAN WORK ANYWHERE IN THE COUNTRY THAT, YOU KNOW, THAT THEY CHOOSE.

>> I THINK IT'S INTERESTING BECAUSE WHEN YOU THINK OF S.T.E.M.

EDUCATION, YOU MIGHT NOT THINK ABOUT AUTO MECHANIC ROLE.

SO, IT'S ALSO A VERY INTERESTING JOURNEY WITH S.T.E.M.

ITSELF.

WE KNOW WE WANT MORE S.T.E.M.

EDUCATION IN NEW JERSEY, BUT PERHAPS WE ARE THINKING OUTSIDE THE BOX.

>> IF YOU ARE WORKING ON AUTOMOTIVE VEHICLES AT ALL, I MEAN, YOU REALLY NEED TO HAVE SOME BACKGROUND AND SOME FIZZICS AND SOME CHEMISTRY.

YOU HAVE TO HAVE SOME BACKGROUND IN MATH.

HERE'S A LITTLE TIDBIT.

YOU HAVE TO KNOW ABOUT PRIME NUMBERS AND THE FUNCTIONING OF PRIME NUMBERS IN ORDER TO FIGURE OUT HOW GEARS WORK THE WAY THEY DO.

SOME PEOPLE ARE SURPRISED TO HEAR WHAT?

PRIME NUMBERS AND GEARS?

ABSOLUTELY.

THERE REALLY IS SUCH A FOUNDATION IN THE MORE TRADITIONAL S.T.E.M., EVEN THINGS LIKE AUTOMOTIVE TECHNOLOGY THAT I'M GRATEFUL TO HEAR YOU BRING THAT UP.

>> WELL, IT'S EXCITING TO HEAR ABOUT THE PROGRAM HERE AT BROOKDALE AND TO KNOW THERE'S GOING TO BE SOME VERY WELL-SCHOOLED MECHANICS RUNNING AROUND NEW JERSEY IN THE FUTURE.

THANKS FOR YOUR TIME.

>> THANK YOU.

>> EACH YEAR ABOUT 40 STUDENTS GRADUATE FROM BROOKDALE'S AUTOMOTIVE PROGRAM WITH AN ASSOCIATE OF SCIENCE DEGREE.

THEY ARE STUDENTS LIKE ALEXANDRA -- WHO ALREADY HAS A HEAD START WORKING FOR THE RAY AUTO GROUP.

>> I FEEL LIKE NO MATTER WHAT JOB YOU HAVE, YOU HAVE TO START FROM THE BOTTOM UP.

AND I FEEL LIKE THIS IS A GREAT WAY TO START HAVING ALL THE INFORMATION I NEED, ALL THE BASICS AND EVERYTHING LIKE THAT.

THAT WAY I CAN GO OUT INTO THE REAL WORLD AND BE, YOU KNOW, ON MY OWN AND THEN BE ABLE TO LEARN FROM MY OWN EXPERIENCE.

BUT AT LEAST I STILL HAVE THAT BACKGROUND.

THAT'S REALLY, REALLY IMPORTANT.

I AM JUST TAKING EVERYTHING THAT COMES AT ME, SEEING HOW I FEEL ABOUT IT.

BUT I'M VERY HAPPY WHERE I AM NOW.

I'M EXCITED TO SEE HOW THINGS GO AS TIME GOES ON.

>> Reporter: WHETHER YOU'RE LOOKING FOR YOUR FIRST JOB OUT OF SCHOOL OR HUNTING FOR A JOB AFTER A LAYOFF, BEWARE OF JOB SCAMS.

THE FEDERAL TRADE COMMISSION HAS ISSUED AN ALERT ABOUT SCAMMERS WHO HAVE BEEN ACTIVE SINCE THE LATEST ROUND OF TECHNOLOGY LAYOFFS.

THE FTC SAYS THESE SCAMMERS MAY ADVERTISE JOBS ONLINE, SET UP FAKE WEBSITES, OR LOOK FOR TARGETS ON SOCIAL MEDIA WITH THE INTENT OF STEALING MONEY OR PERSONAL INFORMATION.

SOME SCAMMERS ARE EVEN CONDUCTING FAKE ONLINE JOB INTERVIEWS AND SETTING UP PHONY ONBOARDING PORTALS, WHERE THEY ASK FOR A PERSON'S SOCIAL SECURITY NUMBER AND BANK ACCOUNT INFORMATION.

THE FTC SAYS IF YOU'RE ASKED FOR MONEY, WALK AWAY AND VERIFY JOB OPENINGS BY REACHING OUT TO COMPANIES DIRECTLY.

>>> A RECENT STUDY REVEALS SOME INTERESTING FINDINGS ABOUT THE JOB MARKET HERE IN NEW JERSEY.

ACCORDING TO THE CONSULTING FIRM McKINSEY AND COMPANY, THE STATE IS FACING A TALENT SHORTAGE AND ISN'T TAKING ADVANTAGE OF A POOL OF AVAILABLE WORKERS.

AT THE SAME TIME, AUTOMATION COULD DISPLACE MORE THAN 1 MILLION NEW JERSEY WORKERS.

TO DIG INTO THIS, I'M JOINED BY JOCELYN GRAHAM.

JOCELYN, YOUR RECENT REPORT ON THE WORK FORCE SPEAKS OF A TALENT GAP HERE IN NEW JERSEY.

WHAT IS THIS TALENT GAP?

HOW IS IT IMPACTING THE STATE'S GROWTH?

AND PERHAPS MOST IMPORTANTLY, WHAT CAN BE DONE TO SOLVE THE PROBLEM?

>> YOU KNOW, DESPITE THE FACT THAT THE ECONOMY IN NEW JERSEY REBOUNDED BACK TO PRE-PANDEMIC LEVELS BY THE THIRD QUARTER OF 2021, WE STILL HAD AN ASTOUNDING 270,000 UNFILLED JOBS IN THE STATE.

THAT TALENT GAP IS A BIG CONSTRAINT TO OUR FUTURE GROWTH IN TERMS OF JOBS THAT CAN BE DRIVING ECONOMIC GROWTH AND PROVIDING OPPORTUNITIES FOR SO MANY OF THE FOLKS IN OUR STATE.

IN TERMS OF SOLUTIONS, THEY ARE NOT EASY ONE-OFF SOLUTIONS.

AS I TALKED TO SLLEADERS THROUGHOUT THE STATE ABOUT THIS PROBLEM AND THIS CHALLENGE, WHAT I'M FINDING IS THE ORGANIZATION USED TO TRY AND TACKLE THESE PROBLEMS ON THEIR OWN.

HOW DO I SOLVE MY INDIVIDUAL TALENT GAP?

AND WHAT WE'RE FINDING IS SOLUTIONS TO A PROBLEM OF THIS SCALE ARE PROBABLY GOING TO REQUIRE MORE COLLABORATION AND COORDINATION ACROSS MULTIPLE STAKEHOLDERS ACROSS THE STATE.

>> THE REPORT ALSO MENTIONS HIDDEN WORKERS.

SO, WHAT CAN THE STATE DO TO EXPAND CANDIDATE POOLS TO GET SOME OF THESE HIDDEN WORKERS OUT FROM THE SHADOWS?

>> BY OUR ESTIMATES, THERE'S ABOUT 330,000 HIDDEN WORKERS IN THE STATE.

AND WHEN YOU THINK ABOUT A NUMBER LIKE THAT VERSUS OUR TALENT GAP, JUST ARE A HUGE TALENT POOL THAT EMPLOYERS CAN BE TAPPING INTO.

IN TERMS OF HOW TO GET THEM BACK INTO THE WORK FORCE, I THINK THERE'S A FEW THINGS THAT WE WOULD RECOMMEND.

SO, ONE IS WHEN YOU SURVEY THESE FOLKS AND ASK THEM, WHAT WOULD MAKE YOU WANT TO COME BACK INTO THE WORK FORCE?

OFTEN TIMES, COMPENSATION IS NOT THE NUMBER ONE THING THEY'RE ASKING FOR.

IT'S OFTEN FLEXIBILITY EITHER IN HOURS OR IN LOCATION.

IT'S OFTEN THE ABILITY TO DO WORK THAT THEY CONSIDER MEANINGFUL OR WORK ENVIRONMENTS THAT THEY CONSIDER MORE SUPPORTIVE.

SO, REALLY THINKING ABOUT HOW DO I CREATE JOBS THAT ATTRACT THESE KINDS OF FOLKS.

AND THEN THE OTHER IDEA THAT WE'VE OFTEN TALKED TO LEADERS OF THE STATE ABOUT IS NOT PUTTING BARRIERS TO ENTRY FOR THESE FOLKS.

A LOT OF JOBS -- OF THE 270,000 UNFILLED JOBS IN THE STATE, A LITTLE OVER 90,000 HAVE REQUIREMENTS FOR BACHELOR'S OR HIGHER EDUCATION DEGREES AS PART OF THEIR SCREENING CRITERIA.

AND WHEN YOU ACTUALLY SURVEY BOTH EMPLOYERS AND EMPLOYEES, ABOUT 85% OF THEM SAY, FOR A LOT OF JOBS, THOSE ACTUALLY AREN'T REQUIRED.

>> ANOTHER ASPECT OF THE REPORT, WHICH IS A LITTLE UNNERVING, QUITE FRANKLY, IT SAYS BY 2030, JOB DISPLACEMENT FROM AUTOMATION COULD REACH MORE THAN 1 MILLION JOBS, ABOUT ONE QUARTER OF THE STATE'S LABOR FORCE.

SO, JOCELYN, WHAT ARE THE OCCUPATIONS MOST LIKELY TO BE IMPACTED BY AUTOMATION?

AND HOW WOULD THIS IMPACT WORKERS WHO ARE MOST LIKELY TO HOLD THESE JOBS?

>> AS I'VE TALKED TO LEADERS THROUGHOUT THE STATE WHO ARE CONSIDERING AUTOMATION OR DIGITIZATION PROGRAMS, ONE OF THE THINGS IS THOSE CHANGES DON'T HAPPEN OVERNIGHT.

AND BECAUSE OF THAT TIME, THEY'RE BEING MORE THOUGHTFUL AND CREATIVE ABOUT THINKING ABOUT OPPORTUNITIES TO, FOR EXAMPLE, PROVIDE MORE EDUCATIONAL BENEFITS FOR EMPLOYEES WHO MIGHT BE AT RISK.

>> JOCELYN, THANK YOU SO MUCH FOR SPENDING SOME TIME WITH ME AND SHARING YOUR RESEARCH.

I APPRECIATE IT.

>> THANK YOU SO MUCH, RHONDA.

I REALLY APPRECIATE THE OPPORTUNITY.

>>> THAT DOES IT FOR US THIS WEEK.

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>>> COMING UP NEXT WEEK, WE LOOK AT HOW ARTIFICIAL INTELLIGENCE IS CHANGING THE WORKPLACE IN NEW JERSEY FROM OUR WAREHOUSES TO OUR SCHOOLS AND OUR HOSPITALS.

THANKS FOR WATCHING, AND WE'LL SEE YOU HERE NEXT WEEKEND.

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