One Year On, JPMorganChase Shares Progress on £40M Investment in the U.K. and Deploys £3.3M to Boost Career Opportunities Across the Country - Seite 2

“We are investing in skills and training to help U.K. residents access greater career opportunities, because we think engaged labour force participation is a critical element of the strong economy that benefits U.K. business,” said Anna Dunn, CEO of JPMorganChase U.K. “Our continued investments will support the U.K.’s increased focus on boosting skills and pathways to quality careers.”

Further detail on the latest work

1. Boosting career readiness

In the U.K., nearly 1 in 7 young people are not in education, employment or training (NEET), the highest level since 2013.² Data also indicates that work experience can increase a young person’s chances of staying in school or employment by 47%, yet students do not have equal access to work experience across the country.³ At the same time, disadvantaged young people who access high quality career guidance, including work experience, are 20% less likely to become NEET.

The U.K. government’s broader education and skills reform as well as the Youth Guarantee - which aims to offer young people in England access to education, training or work - offers an opportunity to address issues of social mobility and economic inequality.

The firm’s commitment

JPMorganChase is providing an additional £3.3 million to CEC to help address the work experience gap for underserved young people by providing multiple and bespoke high-quality career interactions. This programming will offer tailored work experience to improve career readiness and employability of over 3,700 young people from lower socio-economic backgrounds over three years, exposing young people to different growth sectors, work environments, and offer skill building opportunities. Through the support of JPMorganChase, CEC will work with 500 employers and 250 schools to improve the way they prepare young people for their next steps.

The firm has a longstanding relationship with CEC and in 2021 JPMorganChase provided £2 million in support for a career readiness pilot helping young people from disadvantaged backgrounds. This pilot initially supported 1,000 young people through coaching and work placements to transition from education into work or training. The Institute for Employment Studies (IES) examined the impact of the pilot and found positive results – the education choices and career chances of young people were significantly improved upon participating in the pilot.