JPMorgan Chase & Co. has announced a five-year, $17 million commitment aimed at increasing the number of teens with access to quality summer work experiences.
Part of the global financial services firm's more than $325 million investment in skills development, the Summer Youth Employment Program is designed to equip program participants with the skills and experiences they need to succeed and help bridge the gap between the demand for summer jobs and the number of available positions. In 2017, $3 million of the bank's $17 million investment in summer youth employment programs will be awarded to organizations in nineteen cities, including Boston, Chicago, Cleveland, Dallas, Detroit, Fort Lauderdale, Indianapolis, Jersey City (NJ), Louisville, Miami, Milwaukee, Newark (NJ), New York, Philadelphia, Plano (TX), Sacramento, San Francisco, Seattle, and St. Louis.
In addition, the investment will support efforts to strengthen the summer youth employment field nationally by fostering greater learning, collaboration, and innovation. Grants include $300,000 to the Chicago Public School Foundation; $50,000 to the Plano Improvement Corporation; $150,000 to the Greater Milwaukee Foundation; and $125,000 to the Magnet Educational Choice Association in Miami.
"It's a moral and economic crisis that too many young people graduate high school without clear pathways to good jobs," said JPMorgan Chase chairman and CEO Jamie Dimon. "We must make it a national priority to provide youth with the skills they need to succeed, and this starts by providing them with meaningful summer work. Our Summer Youth Employment Program [exposes] students to jobs that teach them the skills they need to find careers in growing industries later on."