JPMorganChase has announced a $6 million philanthropic investment aimed at improving access to jobs for underserved youth in Argentina over the next five years. The initiative will begin with $450,000 in funding to EMpower, a nonprofit organization focused on supporting marginalized communities. This initial support is expected to benefit 2,000 young people in Buenos Aires through skills training, work-based learning, and employment support. The program also seeks to enhance collaboration between public and private sectors to foster long-term improvements in youth employment across the country.
Facundo Gómez Minujín, JPMorganChase Senior Country Officer for Argentina, Uruguay, Bolivia, and Paraguay, stated, “There is so much potential among the young people in Argentina, at JPMorganChase we believe that investing in youth is essential to building a strong and inclusive future for Argentina. By working together with local municipalities, employers, and nonprofit organizations, we can help more young people access the skills and opportunities they need to succeed in the workforce.”
Argentina faces significant challenges with youth unemployment, which stands at over 19%, while more than 68% of young people are engaged in informal work that is often unstable. JPMorganChase’s support to EMpower will pilot a two-year program in two municipalities in Greater Buenos Aires, directly supporting 600 young people with training, work-based learning, and career planning. The firm is partnering with Mercado Libre and other local employers to align training with local job market needs.
A representative from Mercado Libre commented, “At Mercado Libre, we see employability as the driving force for the future of Latin America. We are excited to work with JPMorganChase and EMpower to give young people the practical tools and the real opportunities they need to transform their lives and boost growth in our region.”
Daniel Parnetti, Program Director for Latin America at EMpower, said, “We are delighted to deepen our enduring partnership with JPMorganChase. Their essential support enables EMpower to go far beyond funding, strengthening the local NGO ecosystem through capacity building and shared knowledge. This new phase helps us scale our impact by transferring decades of youth employment expertise to Buenos Aires and unlocking potential for marginalized young people.”
The initiative aims to reach an additional 1,400 young people through collaborations with local municipalities, industry, and nonprofit organizations, providing skills training and work-based learning based on industry needs. JPMorganChase plans to use insights from the pilot program to potentially expand support nationwide.
In addition to supporting external programs, JPMorganChase will launch a 12-month career readiness program for underserved university students, including three months of work experience at the firm’s Buenos Aires office. The program is designed to help students develop technical and soft skills, expand professional networks, and improve English proficiency.
Clara Mendiberri, Chief Administrative Officer for Latin America and Canada and Head of the Buenos Aires Corporate Center, said, “Our new career readiness program, together with our ongoing recruitment efforts at the Corporate Center, underscores our firm’s commitment to expanding career opportunities in Buenos Aires. By providing hands-on work experience, skills development, and access to professional networks, we can help young people overcome barriers to employment and empower the next generation of talent.”
JPMorganChase established its Corporate Center in Buenos Aires in 2014, which supports key functions such as technology, operations, finance, and legal services. In 2024, the firm announced plans to hire 1,500 additional employees over five years, reinforcing its commitment to business growth in Argentina and support for local talent.
The company has a history of working with organizations like Fundación Cimientos to reduce secondary school dropout rates and support youth transitions from education to employment. Since 2018, JPMorganChase has partnered with Fundación Pescar to provide technical and soft skills for technology careers. According to Fundación Pescar, since 2024, 92% of participants in JPMorganChase-funded programs completed secondary school, 70% continued their education, and 84% joined the workforce.
JPMorganChase’s philanthropic efforts are supported by employee volunteerism. In 2023, the firm launched Career Connect in Buenos Aires, connecting young people with mentors from JPMorganChase. More than 180 young people have participated in Career Connect, supported by over 200 employee volunteers.