27 Jun 2016 16:00
With a boost from JPMorgan Chase & Co., 8,000 Baltimore young people seeking summer jobs will be working this summer. The firm today announced a $175,000 commitment to support Baltimore’s YouthWorks summer youth employment program, which connects Baltimore youth ages 14-21 with private sector, nonprofit and government employers offering five-week work experiences.
“Summer jobs offer more than a paycheck – they open doors to opportunities that have tremendous impact on the lives of young people who live in poverty and lack a pathway to a successful future,” said Peter Scher, Chairman of the Mid-Atlantic region, JPMorgan Chase & Co. “Baltimore's YouthWorks is helping young people gain valuable hands-on experience and explore rewarding careers. JPMorgan Chase sees great value in YouthWorks, and we are proud to contribute $175,000 to help the city reach its goal of providing summer jobs to 8,000 Baltimore youth.”
Through the Mayor’s Department of Employment, YouthWorks offers two five-week work programs at more than 900 worksites in a wide variety of industries, including: health care and social assistance, hospitality/tourism, finance, construction, law and government. The program strives to connect young people to jobs that can further their career interests.
“This is a remarkable example of what can be achieved when all sectors of our community come together to support a worthy initiative like YouthWorks,” said Mayor’s Office of Employment Development Director Jason Perkins-Cohen. “We all can relate to the significance summer jobs have made in our lives and know that these are worthy investments in our city’s future.”
JPMorgan Chase has committed nearly $6 million since 2014 to support meaningful, career-targeted summer job opportunities for teens and young adults across the country. A recent JPMorgan Chase report revealed that only about 38 percent of teens and young adults looking for summer jobs were able to find positions in 15 cities surveyed. For those who found summer jobs, they are 86 percent more likely to be employed the following year. With this experience, young people are able to increase lifelong earnings and climb the economic ladder.
In addition to JPMorgan Chase, YouthWorks is supported by the Annie E. Casey Foundation and several other organizations and businesses.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. The firm uses its global resources, expertise, insights and scale to address some of the most urgent challenges facing communities around the world including the need for increased economic opportunity. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
| Media: |
| JPMorgan Chase & Co. |
| Steve O’Halloran, 302-282-5699 |
View source version on businesswire.com: http://www.businesswire.com/news/home/20160627005929/en/
Copyright Business Wire 2016