JPMorgan Chase Makes $20M Investment in Youth Employment

Hartford is one of two dozen U.S. cities chosen to receive funding from JPMorgan Chase for summer youth employment programs. 

As part of the commitment, Hartford’s Capital Workforce Partners, a workforce development organization, will receive a $100,000 grant. 

The funding comes as part of JPMorgan Chase’s $20 million, five-year philanthropic commitment to support youth employment. 

The company hopes the investment will give young people access to meaningful experiences that will lead to careers. 

“The COVID-19 pandemic, and ongoing racial and economic crises have had a disproportionate impact on young people, especially for those in under-resourced communities who have had to juggle supporting their families and preparing for their own futures,” said Demetrios Marantis, the bank’s corporate responsibility global head. 

“Early employment opportunities for young people are incredibly valuable and often provide the necessary skills, network and experience they need for future career success and economic mobility.”

Skills Development

JPMorgan Chase is working with local governments, employers, and community programs to disperse the funds and create meaningful programs. 

The commitment will have a strong focus on skills development and job placements, and will prioritize employer engagement. 

Preparing people for the future workforce has been an ongoing goal for JPMorgan Chase, which announced a $350 million global commitment in 2019. 

A recent Georgetown University study found young adults need to acquire high-quality work experience and more education than previous generations to secure good jobs. 

Other markets included in the latest summer youth employment program commitment include Boston, Chicago, New York City, Philadelphia, and Washington, D.C.