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Jamie Dimon

JPMorgan Chase announces $75 million to fight youth unemployment

JPMorgan Chase announces $75 million to fight youth unemployment

JPMorgan 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, announced Tuesday, 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.

"It is a crisis that only 60 percent of students in high-poverty urban school districts graduate from high school and that more than 5 million young people are out of work and school," Jamie Dimon, chairman and CEO of JPMorgan, said in a...

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