JPMorgan Chase Commits Over $1.3 Million to Increase Skills Training and Job Growth in Detroit

JPMorgan Chase & Co. is investing over $1.3 million to increase the number of Detroiters receiving skills training for in-demand jobs and to strengthen partnerships between job seekers, local employers and training providers, the firm announced today. As part of JPMorgan Chase’s $100 million commitment to the city’s economic recovery, the new grants will support the Detroit Employment Solutions Corporation, United Way for Southeastern Michigan and Corporation for a Skilled Workforce (CSW).

Specifically, the investments will create an innovative and new leadership development academy for local workforce professionals, improve connections between Detroiters and existing job openings in growing local industries and address the skills mismatch between local employers and job seekers.

“By aligning our investments with the city’s workforce priorities, we are giving more residents the chance to climb the economic ladder and gain critical job skills and we are helping workforce leaders build effective job training and employer engagement programs,” said Chauncy Lennon, Head of Workforce Initiatives, JPMorgan Chase.

Earlier this year, JPMorgan Chase and CSW released a series of reports that examined ways to strengthen Detroit’s workforce systems. The reports identified specific opportunities for the city’s workforce infrastructure, funding, organizations and programs, including the Mayor’s Detroit Workforce Development Board, to work together to help job seekers and employers.

“As Detroit comes back, we want to make sure that Detroiters are participating in the turnaround - and that means having the skills to secure available jobs," said Detroit Mayor Mike Duggan. “JPMorgan Chase’s latest investments will help continue to fuel our employment growth by providing skills training for our residents. This is great news for Detroiters and businesses seeking a well-trained workforce.”

About 6,200 more Detroiters are working today than in January 2016 and the city’s employment growth is outpacing overall U.S. growth, according to the city. Still, the report found that Detroit has a relatively weak labor force with only 62 percent of Detroiters between the ages of 16 and 64 employed. Additionally, many residents do not have the necessary skill and education levels to qualify for good-paying local jobs while workforce training programs were not well enough aligned with the needs of residents and employers.