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Banks and tech giants like JPMorgan and Amazon pledge to rent 100,000 New York minorities

Jamie Dimon, CEO of JPMorgan Chase & Co.

Giulia Marchi | Bloomberg | Getty Images

The CEOs of banks, tech companies, and consulting firms form a group to promote the recruitment of underrepresented groups in New York.

Executives from 27 companies representing many of New York's dominant industries have teamed up to create the New York Jobs CEO Council, which a press release says will recruit 100,000 people from low-income black, Latin American and Asian communities by 2030.

The new organization co-chairs include Jamie Dimon, CEO of JPMorgan Chase; Arvind Krishna, CEO of IBM, and Julie Sweet, CEO of Accenture. Other first members of the CEO group are Jeff Bezos from Amazon, Satya Nadella from Microsoft; Sundar Pichai from Google and David Solomon from Goldman Sachs.

The coronavirus pandemic has helped exacerbate inequality in US cities, leading to more job losses and poorer health outcomes for people in low-income areas. Nearly 40% of lower-income Americans lost their jobs when the coronavirus began its attack on the US economy, the Federal Reserve said in May.

"Many New Yorkers are stuck in low-paying jobs that may be lost in the future or struggle to navigate the job market," Dimon said in the press release during the pandemic. "We are using our collective strength to prepare the city's workforce for the skills of the future and to help the left-behind New Yorkers get a foot in the door."

The group is led by Dr. Gail Mellow, past president of LaGuardia Community College, directs and plans to help companies hire people for entry-level jobs that will put them on a career path. The 100,000 figure includes 25,000 student jobs and apprenticeships for the City University of New York.

"The new initiative will play an important role in connecting underserved communities with career resources and access to New York's world-class educational institutions," said Andrew M. Cuomo, New York governor, in a statement.

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