Gen Z Employment Funding: Citi Foundation Grants $25M to Nonprofits

Here are teh relevant facts from the provided text:

* Job Market Difficulty: Young jobseekers (22-27 year olds with degrees) are facing the highest unemployment rate⁤ in a ‍dozen years (excluding the pandemic).
* Company Hiring Hesitation: Companies are reluctant to hire‍ due to economic uncertainty.
*⁣ Impacted professions: The hiring slump​ particularly affects fields like information technology,which typically employ college graduates.
* AI Concerns: There ⁣are fears that⁢ artificial intelligence will replace entry-level jobs.
*​ Citi foundation Initiative: The Citi Foundation is investing $25 million ⁤in⁤ a Global Innovation Challenge to address youth employability.
*⁢ Funding Focus: $500,000 grants are being awarded to 50 groups ⁢focusing ⁣on digital literacy,technical training,and career guidance for low-income youth.
* Skills Gap: ⁣ Employers report skills gaps as the biggest barrier to business conversion.
* ‌ AI Skill Demand: Two-thirds of companies plan to hire for ‌AI skills,while 40% anticipate job elimination due to AI.
* Importance of Soft Skills: The Citi Foundation emphasizes the importance ⁣of developing soft skills (teamwork, empathy, judgment, communication) alongside technical skills, ⁤as these are areas where AI currently lacks.
* NPower: A national nonprofit receiving funding, ⁢NPower focuses on making digital careers accessible in underinvested communities,⁢ serving young adults aged 18-26.