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New Skills For Youth: Investing $75M Today to Build Tomorrow’s Economy

Young people need pathways to high-quality training and skills to compete for jobs

December 24, 2022

We believe every young person deserves a pathway to economic success. That’s why we’re announcing a new $75 million investment to expand high-quality career-focused education programs that lead to well-paying jobs and long-term careers. Failing to prepare young people with the right skills and education for these jobs is not just a missed opportunity for them—it’s a missed opportunity for businesses to hire the talent they need to grow and compete.

With the Council of Chief State School Officers and the National Association of State Directors of Career Technical Education Consortium we are launching a multi-million dollar competition for states to expand and improve career-focused education that prepares students for high-skill and high-wage jobs.

Learn more details on this initiative.

 

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Economic opportunity is increasingly out of reach for million of young people. Without the right skills or education, they find themselves stuck in low-skill, low-wage jobs or unemployed. We are investing in high-quality career-focused education programs so that more young people have a shot at real economic opportunity.

Jamie Dimon

Chairman and Chief Executive Officer

Preparing young people to succeed in the growing global economy

There's a youth unemployment crisis today.

5.5MM young people are neither working nor in school.

Unemployment disproportionately impacts high-poverty and minority groups because of lack of education and necessary skills.

Youth Unemployment Rates:
11% Overall
22% African Americans

High-School Graduation Rates:
81% Overall
60% High-Poverty Urban Districts

Workers who don’t graduate from high school face dwindling job prospects, lower wages and fewer opportunities to join the middle class.

The future looks bright for young people who have the necessary education and credentials to be career-ready.

1 out of 3 American companies have openings for which they can’t find qualified workers.

By 2020:
Over 60% of new jobs will require more than a high school diploma
And of those 60%
Only about 50% of those new jobs will require a 4-year degree

We’ve committed $75MM toward a 5-year global career readiness initiative aimed at today's youth.

New Skills for Youth
JPMorgan Chase & Co.

© 2016 JPMorgan Chase & Co.

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