JPMorgan Chase & Co. has announced a more than $8.6 million commitment to help fill well-paying U.S. health care jobs by providing job seekers with critical skills that are in high demand but currently hard to find. As part of the firm’s $325 million global investment in skills development, this nationwide effort will provide lower-income Americans with the economic mobility to move into the middle class while helping health care organizations to better serve the increasing number of Americans seeking health care services.
“Through conversations with clients and partners, JPMorgan Chase has a unique vantage point for understanding how to address challenges health care organizations are facing when trying to find skilled workers and better serve patients,” said Chauncy Lennon, head of workforce initiatives, JPMorgan Chase. “By investing in skills training solutions to fill well-paying, high-demand health care jobs, we’re not just providing individuals with economic opportunity, but helping to improve entire communities and the U.S. economy.”
Health care is the fastest-growing industry, nationally, with employment estimated to grow by 19 percent from 2014 to 2024, adding 2.3 million new jobs. But many of these jobs are expected to go unfilled unless job seekers have certain skills. The increased need for skills-driven health care jobs can be attributed to various factors including an aging population, including over 44 million baby boomers who will rely more heavily on health care services as well as a shift in how health care is provided from curative to preventative care. Rapidly changing technology has also required job seekers to secure necessary training to help them secure middle skill jobs – those that require more education and training than a high school diploma but less than a four-year college degree.
JPMorgan Chase aims to giving more workers, including lower-income people who are underemployed, a chance at good, 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.
Middle skill jobs provide higher wages and can set workers on a career pathway while improving job security and satisfaction. The increased demand for health care services, changes to the structure of health care delivery, and efforts to control costs affect employment in the health care workforce at all skill levels. These trends suggest health care is a promising sector for initiatives focused on developing a strong pipeline to move lower-skilled workers into middle skill jobs.
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