JPMorgan Chase and CCSSO announce $20 million to improve career education for young people in 10 U.S. states

Source: Business Wire

The Council of Chief State School Officers (CCSSO) and JPMorgan Chase & Co. today announced $20 million in grants to 10 U.S. states to dramatically increase the number of students who graduate from high school prepared for careers.

 

WASHINGTON--(BUSINESS WIRE)--The Council of Chief State School Officers (CCSSO) and JPMorgan Chase & Co. today announced $20 million in grants to 10 U.S. states to dramatically increase the number of students who graduate from high school prepared for careers. Developed as part of JPMorgan Chase’s $75 million global New Skills for Youth initiative, each winning state will work with government, business and education leaders to strengthen career education and create pathways to economic success.

Delaware, Kentucky, Louisiana, Massachusetts, Nevada, Ohio, Oklahoma, Rhode Island, Tennessee and Wisconsin will each receive $2 million over three years to expand and improve career pathways for all high school students.

An independent advisory committee recommended the states to receive grants from the New Skills for Youth initiative after a rigorous review process. These 10 states demonstrated the strongest plans to work across sectors to transform how they design and develop career preparedness education programs and provide young people with the skills they need to compete for high-skill, well-paying jobs. They have also committed to bring together education leaders, business partners and community partners to set ambitious benchmarks for achieving these goals.

“The number of young people who graduate from high school without the necessary skills to compete is one of the greatest moral and economic inequities of our time,” said Jamie Dimon, Chairman and CEO, JPMorgan Chase. “These investments will help states build career education programs that align with the needs of growing industries and give young people a chance to succeed.”

“These states are leading the way to improve career pathways for all kids through partnerships with communities, higher education and leaders in industry,” said CCSSO Executive Director Chris Minnich. “I applaud their efforts and look forward to working with these grantees and other states across the country as they continue to strengthen career preparation for kids.”

“Providing opportunities for all students to participate in high-quality career readiness programs is critical to their future success and the future of our country,” said Advance CTE Executive Director Kimberly Green. “I am thrilled at the progress made by these states and excited at the prospects this initiative offers for all learners and all states.”

Too many students leave high school without being prepared for college or a career. Nationwide, the unemployment rate for young people ages 16-24 is 9.3 percent, with many more working only part-time or in low-wage jobs with little opportunity to advance. At the same time, the U.S. economy is projected to produce millions of well-paying jobs over the next decade, about two-thirds of which will require some post-secondary education but not necessarily a four-year college degree.

For all states, this is an opportunity to work across sectors and pull together stakeholders in business, industry, higher education and within communities to research what has worked and what career pathways are most needed for kids in their state.

These state grants are one part of the $75 million, five-year New Skills for Youth initiative developed by JPMorgan Chase, in collaboration with CCSSO, Advance CTE and Education Strategy Group, aimed at strengthening career-focused education starting in high school and ending with postsecondary degrees or credentials aligned with high-skill jobs. In recent years, more than 40 states have committed to transforming career education for all students. In March 2016, JPMorgan Chase and CCSSO awarded $100,000 grants to 24 states and the District of Columbia for planning and early implementation of long-term career readiness education programs that align with the needs of area employers. These states received targeted coaching and support to begin implementing these programs over the past year.

The grants awarded today represent the second phase of the New Skills for Youth initiative. All of today’s recipients were selected from the original 24 state grantees. These states will now leverage this additional grant funding to execute the career readiness-plans they developed during phase one of the initiative.

 

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