Mike Milken: Finance is struggling, but here's a booming industry

Key Points
  • Increasing focus on the adoption of green technology means the clean energy sector will create the most jobs in the United States, according to Mike Milken
  • In contrast, the finance industry does not fare as well, with many people moving into other areas after commissions fell, he added
Mike Milken: We need to develop new jobs
Mike Milken: We need to develop new jobs

The clean energy sector will be a massive engine for job growth in the United States given the increasing focus on the adoption of green technology, according to Milken Institute chairman Mike Milken.

Milken was speaking to CNBC's "Street Signs" on Wednesday at the sidelines of his institute's Asia Summit 2017 in Singapore, touching on topics ranging from the impact of technology on jobs to future growth industries.

"The move into clean energy is going to create a lot of jobs in that area ... right now the number one growth (profession) in the U.S. is windmill technician," the philanthropist and former financier said.

Milken said the finance industry is not coping as well as the clean energy sector. Commissions for equity sales, for instance, have declined and forced many people to go into other jobs.

"The use of mathematics, big data, statistics will be applied in all industries including finance," he said. "We need to make sure people are trained in the (new areas) and we also have to focus on access to capital."