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Citi Foundation is putting $25M toward tackling young adults’ unemployment and AI labor disruptions
Citi Foundation’s $25 million funds 50 global nonprofits offering digital and soft skills training to low-income youth amid rising AI-driven job disruptions, officials said.
- The U.S. unemployment rate for college graduates aged 22-27 is highest in over a decade outside of the pandemic period, as companies remain reluctant to hire due to economic uncertainties, especially in professions employing more college grads like information technology.
- Citi Foundation is donating $25 million to 50 organizations worldwide that provide digital literacy, technical training, and career guidance to low-income youth, to address skills gaps that employers find as the biggest barrier to business transformation in the next five years.
- Some grantees are teaching people to use AI chatbots for automatable work, focusing on developing soft skills like project management and emotional intelligence alongside technical skills in cloud computing and AI, as employers prioritize general competency over specialized skillsets.
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'If there’s no bottom rung on the ladder, it’s really hard to leap up': Nonprofits focused on Gen Z employment get $25m Citi Foundation windfall
Young jobseekers, challenged by a rapidly changing labor market, are having a tough time. The U.S. unemployment rate for 22- to 27-year-old degree holders is the highest in a dozen years outside of the pandemic. Companies are reluctant to add staff amid so much economic uncertainty. The hiring slump is especially hitting professions such as information technology that employ more college graduates, creating nightmarish job hunts for the increasi…
·New York, United States
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Associated Press News+55 Reposted by 55 other sources
Citi Foundation is putting $25M toward tackling young adults' unemployment and AI labor disruptions
Citi Foundation is donating a half million dollars to each of 50 groups that provide digital literacy skills, technical training and career guidance for low-income youth around the world.
·United States
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Total News Sources58
Leaning Left7Leaning Right2Center41Last UpdatedBias Distribution82% Center
Bias Distribution
- 82% of the sources are Center
82% Center
14%
C 82%
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