JP Morgan Chase pumps $17M into summer job programs

File photo (Getty Images)

BOSTON (AP) — JPMorgan Chase has announced a five-year, $17 million investment in a summer job program to give youth the skills needed to succeed in the modern business world.

The first phase of the Summer Youth Employment Program announced Monday includes $3 million to organizations in 19 U.S. cities that provide training and work experience to the young.

JP Morgan Chase CEO Jamie Dimon says “it’s a moral and economic crisis” that too many young people graduate high school without appropriate work skills and it should be a national priority to give them those skills through meaningful summer work.

The investments announced Monday include $500,000 to City Connect Detroit; $300,000 each to the Chicago Public School Foundation and United Way Bay Area in San Francisco; and $100,00 to the Boston Private Industry Council.

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