Communities around the world are working to rebuild their economies, yet millions of people still are unable to find jobs that offer the prospect of economic mobility. At the same time, many employers are looking to fill vacancies, especially for technical and skilled positions. Closing this skills gap is a powerful strategy for expanding access to opportunity and promoting economic growth.

Taking Action

JPMorgan Chase’s New Skills at Work initiative is a $250 million, five-year global effort aimed at helping reshape workforce development systems to focus training on the skills employers need. We are supporting real-time, locally focused market and employment data. We are helping job seekers gain the skills they need to compete in the workforce. And we are also helping American military veterans translate their skills to the civilian workforce and gain access to employment opportunities.

By 2020, 65% of jobs will require some education or training beyond high school, up from 56% in 1992
Across Europe, nearly 10% of the labor force is unemployed and the rate is nearly twice as high for people under age 25

2014 Highlights

graphic of a man and a woman working at a conveyor belt

Deployed the first $50 million of our New Skills at Work initiative — including committing $5 million to support summer youth employment initiatives for underserved youth across the United States — and issued skills gap reports in New York City and Houston and labor market studies in England, France and Spain

graphic of a man with a medal and a mortar hat next to a building with $8 million superimposed

Deployed the first $8 million of our five-year, $20 million commitment to help U.S. military veterans develop job skills, complete college and find stable housing

graphic of a man and a woman wearing medals

Hired more than 8,200 veterans since 2011 and continued our leadership of the 100,000 Jobs Mission

At Work In:

a young male apprentice in New York City
World map with New York City pin

New York City

Preparing Workers for Good Jobs in Growing Industries

According to data analysis from the New Skills at Work initiative, healthcare and technology are two of New York City’s fastest-growing business sectors, accounting for 45% of the city’s middle-skill job openings. Both sectors are projected to grow roughly 15% over the next five years so demand will continue to expand, creating excellent opportunities for New Yorkers to earn good wages and step onto a long-term career path.

Find Out More

JPMorgan Chase supported the creation of Career Network: Healthcare, a collaborative program that is helping young adults in the South Bronx acquire the credentials needed to secure a job in the healthcare sector.

Access to the job market for young people is a key issue that should mobilize all of us, and it is essential to act at the local level, building on practitioners’ knowledge and approach. I believe that large corporate, government and educational institutions can work together to provide more work-based learning and training programs tied to career pathways.”

Xavier Huillard,
Chairman and Chief Executive Officer, VINCI