JP Morgan Chase has recently announced a $250 million, 5-year initiative called New Skills at Work. Citing high, long-term unemployment rates and data showing that employers are having trouble filling jobs, particularly in skilled labor and professional positions, the banking institution has partnered with the White House and a number of nonprofit organizations to help people get the training they need to compete for jobs today and in the future.
A key component of the program involves using the local workforce data JP Morgan Chase has developed to determine which skills are most needed in which sectors, which will help them focus their grants and aid their non-profit partners, as well as government organizations, to design programs for maximum impact.
“Even though unemployment is high, we hear from our business clients every day about the challenges they face finding workers with the right skills for jobs that are open right now,” said JP Morgan Chase CEO Jamie Dimon. “That’s why we are working with community leaders across the country – technical training programs, community colleges, policymakers and employers – to address this skills gap.”
The New Skills at Work program will launch first in 9 cities: Chicago, Columbus, Dallas, Detroit, Houston, Los Angeles, Miami, New York, and the San Francisco Bay Area. The program will work with nonprofits such as Jobs for the Future, the National Fund for Workforce Solutions, YouthBuild USA, Women Like Us, and Year Up. It is still looking to add local and regional partners, however, so there are plenty of opportunities here for career development organizations to apply for funding.