Morgan Chase plans to spend $75 million to fight youth unemployment in part through grants to states that train young people for high-paying jobs that employers struggle to fill.
The five-year global New Skills for Youth Initiative, encourages states to invest in demand-driven career education programs to address alarmingly high unemployment rates among 16- to 24-year-olds, particularly minority youths.
The company will also invest in city and school programs around the world that are developing models of career-focused education that align with the needs of emerging industries.
The initiative complements JPMorgan’s $250 million New Skills at Work initiative, launched in 2014, that invests in programs that train job seekers for so-called middle-skill jobs, which require a high school degree and some postsecondary credentials but not a four-year college degree.
Source: Chicago Tribune