Jamie Dimon: School Dropout Rates Are ‘National Catastrophe’

Jamie Dimon, chairman and chief executive officer of J.P. Morgan Chase & Co., said America faces a “national catastrophe” from a failing educational system with high dropout rates and young people who aren’t prepared to enter the work force.

“We need to get kids getting out of high school, who go on with a job, or go on to college and that leads to a job,” Dimon said in an interview with Business Insider. Dimon’s bank last week announced a $6 million investment in education for students in the South Bronx, a notoriously blighted part of New York City.

“Business has to be involved locally with civic society, in this case schools, to get the kids trained to have a job,” Dimon said. “There are plenty of jobs out there.”

Dimon is a registered Democrat who has said he wants to stay out of party politics and focus on solutions

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