New Skills at Work: First Year in Review

High Levels of Unemployment

Despite economic recovery, unemployment rates remain elevated around the world.
5.8% U.S unemployment rate, with a rate of 15.1% for people aged 16 to 24¹
11.5% Unemployment rate in the Euro area, with nearly twice as high for people under the age of 25²

Fueled by the Skills Gap

Having some job vacancies is natural in healthy, well-functioning economies, but the inability of employers to find workers with the right skills is a growing contributor to job vacancies and unemployment.
Nearly 2MM
Number of jobs sitting vacant in Europe³
Nearly 5MM
Number of jobs sitting vacant in the United States¹
1/3 of the U.S. unemployment rate is due to the gap between skills and open jobs⁴
Estimated 85MM
The global shortage of high- and middle-skilled workers by 2020⁵

JPMorgan Chase's Response: $250 Million

To help address this challenge, our initiative is aimed at closing the skills gap through:
Innovative, data-driven analysis of skills demand and supply gaps in local markets.
Targeted investments to strengthen and scale the most effective workforce training programs that meet the employment needs of each community.
Cross-sector convenings to encourage collaboration, share findings and formulate strategies..

© 2015 JPMorgan Chase & Co.