Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

There is a significant racial gap in the U.S., and COVID-19 exacerbated inequities

Why it’s important: The widening racial wealth gap and reduced buying power for Black and Latinx people cost the U.S. economy about $2.3 trillion per year, according to a National Equity Atlas report.

To address this, JPMorgan Chase is investing in jobs and skills programs as part of its work to advance racial equity, including the company’s $30 billion firmwide commitment across the business.

“An inclusive economy – in which more people are participating and benefiting from the growth of that economy – is better for everyone.”

- Jennie Sparandara, JPMorgan Chase’s head of skills programs for corporate responsibility.

JPMorgan Chase is focusing on:

  1. Strengthening the pipeline and creating high-quality career pathways.

The challenge: The perception that any sustainable, well-paying jobs require a bachelor’s degree or higher.

  • University students in the U.S. today are 61% white, 18% Hispanic, 12% Black and 6% Asian.

In practice, many roles may not need a bachelor’s degree.

  • The company is committed to increasing diversity firmwide: 75% of JPMorgan Chase roles don’t necessarily require a 4-year degree.
  • JPMorgan Chase’s Emerging Talent Programs give more people access to education and real-world work experiences.
    • For example, high schoolers received on-the-job experience through the CareerWise NY Apprenticeship. The first cohort of apprentices was 50% Latinx and 34% Black.

JPMorgan Chase is expanding The Fellowship Initiative (TFI) to help more than 1,000 Black and Latinx young men prepare for college and careers.

  • TFI has driven a 100% high school graduation and college acceptance rate over the past decade, among graduating Fellows.
  • Here’s how: The three-year program matches Fellows with JPMorgan Chase employees for coaching, academic support and leadership development.

Additionally, JPMorgan Chase is introducing a program to upskill and reskill employees globally, helping them prepare for long-term success.

  1. Supporting more inclusive talent practices.

The challenge: Past criminal records can be significant barriers to employment.

JPMorgan Chase is helping clear pathways to a second chance for people with criminal backgrounds, supporting skills development and access to employment by:

  • Advocating federal and state policy change to reduce barriers to employment.
  • Removing questions about criminal backgrounds from initial job applications at JPMorgan Chase.
  • Making community investments to support people with criminal backgrounds.

JPMorgan Chase is working with partners who understand the specific needs of their communities.

  • Providing nonprofit Apprenti with a $2.75M philanthropic investment to help scale, delivering more historically underrepresented tech talent to 100 employers in 18 states, including 19 software engineering apprentices at JPMorgan Chase now.
  • Partnering with HBCUs on curriculum development, scholarship and mentorship programs to increase the pipeline of Black students entering the financial planning profession.
  • Working with anti-racist youth workforce development nonprofit LeadersUp to develop new skills trainings.

“The partnership helped JPMorgan Chase operationalize this anti-racist practice of local hiring, as it relates to ensuring equitable access to opportunity is at the core of economic development."

  • CEO of LeadersUp Jeffery Wallace

Read more.

Go deeper

Dimon calls on companies to be policymakers

JPMorgan CEO Jamie Dimon. (Photo: Al Drago/Bloomberg via Getty Images)

JPMorgan CEO Jamie Dimon is calling on companies to play a bigger role in the world’s problems, saying today in his annual shareholders letter that the business sector should be a “responsible community citizen."

Why it matters: Corporations are increasingly facing more pressure to take a stand on politically divisive issues.

Inside Biden's Taiwan flubs

Illustration: Aïda Amer/Axios

Twice this year, President Biden has blurted out commitments that the U.S. is prepared to defend Taiwan against a Chinese invasion — forcing the White House to walk back his statements and leading to confusion over a high-stakes national security policy.

Why it matters: U.S. defense officials have publicly aired their concerns that China will take Taiwan by force in the next four to six years, perhaps sooner. The president's position on this question may soon have real-world, life and death consequences.

"Atmospheric river" to whiplash Northern California from drought to flood

A map depicting 24-hour preciptation forecast (inches) ending Monday at 5a.m. local time. Photo: NOAA

A series of powerful "atmospheric river" storms are set dump historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest from this weekend, forecasters warn.

Why it matters: A strong atmospheric river, packing large amounts of moisture, is predicted to whiplash Northern California from drought to flood.