JPMorgan Chase committed more than $8.6 million to help fill healthcare roles via skills training and apprenticeships.
Here are five things to know.
1. The nationwide initiative is part of JPMorgan Chase's $325 million global investment in skills development.
2. JPMorgan Chase seeks to offer more workers, including people with lower incomes who are underemployed, an opportunity for well-paying careers "by providing the necessary capital and technical support to local community colleges, training partners and research organizations that are doing innovative work to fill these vital middle skill jobs," the firm said in a news release.
3. The $8.6 million commitment will support various organizations and efforts in the Chicago area. These include Ann & Robert H. Lurie Children's Hospital of Chicago ($300,000) Rush University Medical Center ($100,000), Instituto Del Progreso Latino ($250,000), and One Million Degrees ($400,000). "These investments focus on addressing the middle-skills employment gap in Chicago's healthcare sector by partnering with various groups to recruit and train individuals interested in high-demand healthcare careers," the firm said.
4. JPMorgan Chase's commitment will also support H-CAP ($1 million), a national labor/management organization of Service Employees International Union locals and healthcare employers. The firm said H-CAP members are partnering to develop national standards and guidelines for registered apprenticeships "by coordinating across regions with key groups to convene a national conversation and opening the door to this model in licensed healthcare occupations." The group's goal is to implement registered apprenticeship programs in at least five states — California, Connecticut, Massachusetts, New York, and Pennsylvania. The firm said the apprenticeships would be for advanced homecare workers, behavioral, health workers/technicians, community health workers and medical coding.
5. Other recipients include New Hyde Park, N.Y.-based Northwell Health ($750,000) and Austin, Texas-based Seton Healthcare Family ($730,000). Read the full list of recipients here.